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  • Writer's pictureNoverando Rafiel Angelo

The ABCs of HDB Valuation Price: A Step-by-Step Exploration

Updated: Jan 16

In the thriving real estate scene of Singapore, Housing and Development Board (HDB) flats continue to be a fundamental housing solution for a large segment of the population. As individuals traverse the path of buying or selling such properties, the spotlight falls on understanding the HDB valuation price, a key factor that significantly influences these transactions.

The HDB valuation price is not merely a reflection of the market value of an HDB flat but a crucial pivot around which financial decisions revolve for both buyers and sellers in the resale market. Whether it's determining the loan amount a buyer can secure or the final selling price, the HDB valuation price is at the core of these critical decisions.

Brought to you by Clicks®, a trusted real estate platform, this article aims to demystify the HDB valuation process, providing a comprehensive insight for anyone keen on delving into the property market. Let’s check it out!

What is HDB Valuation Price?

HDB valuation is a critical process conducted by the Housing and Development Board (HDB) in Singapore, aimed at determining the market value of HDB resale flats. This valuation serves as a foundation for various financial decisions involved in the transaction of HDB resale flats. Here's a closer look at what HDB valuation entails:




HDB valuation is an estimation of a resale flat's worth conducted by HDB, based on various factors including the market value of similar units in the vicinity​.


Essential for both buyers and sellers. It affects the loan amount and CPF savings usage for buyers, while providing a fair price estimation for sellers​.


  • Agreement on Price: Initial price agreement between buyer and seller.

  • Option to Purchase (OTP): Granted by the seller to the buyer post agreement.

  • Request for Valuation: Mandatory for buyers if obtaining a loan or utilizing CPF monies​​.

Evaluation Criteria

Based on recent transaction prices of similar-sized HDB flats in the same area, among other factors​​.

Official Valuation Report

The outcome is an official valuation report detailing the market value of the HDB flat, integral to the HDB resale application process and is the only official method to ascertain the value of an HDB resale flat​.

Implication on Financing

Influences the loan amount a buyer can secure, the amount of CPF savings usable, and the Cash Over Valuation (COV) which is the difference between the agreed price and the HDB valuation price.

How long does it take for a valuation report?

The journey from initiating a valuation request to receiving the valuation report is straightforward but requires adherence to the stipulated process. Once the OTP is granted, the buyer or their agent must submit a Request for Value with a scanned copy of page 1 of the OTP on the next working day on the HDB Resale Portal. HDB typically provides the valuation in about seven business days post submission​.

The process entails logging into the HDB e-Service portal, following the step-by-step guide provided, and keeping track of the Request for Value status via the HDB Resale Portal. The buyer will then be informed of the valuation figure, which remains available for viewing and downloading up until one month after the resale completion​.

How long is the HDB valuation report valid for?

Once the HDB valuation is completed and the figure is published on the HDB Resale Portal, it remains valid for three months. This period is crucial as the buyer should submit the resale application within this timeframe to avoid the need for a new valuation request. If the resale application isn’t submitted within the three-month validity period, a new Request for Value must be submitted, and the housing loan amount and CPF savings usage will be based on the new valuation figure obtained​.

The valuation validity period is separate from HDB’s approval for a resale flat to be sold, emphasising the importance of timely submission of the resale application post-valuation. The valuation process, although systematic, requires both the buyer and seller to be vigilant and prompt in their respective roles to ensure a smooth transaction.

Who pays for the HDB Valuation Report?

The responsibility of paying for the HDB valuation falls on the buyer. A processing fee of SGD 120 (GST inclusive) is required for each Request for Value, which is non-refundable post submission. This fee is paid during the submission of the Request for Value on the HDB Resale Portal. It’s crucial for buyers to be certain before initiating the valuation request due to the non-refundable nature of the processing fee​​.

Moreover, the valuation fee is just one among various other costs involved in the transaction process. Understanding the financial implications and preparing for the associated costs, including the valuation fee, will contribute to a smoother, more informed transaction process.

Step by Step Conducting HDB Valuation

Here are step by step when you tried to conducting your HDB valuation”

  1. Agreement on Selling Price: Buyer and seller agree on a selling price for the HDB flat.

  2. Obtain an Option to Purchase (OTP): Seller grants the buyer an OTP.

  3. Submit a Request for Value: Via HDB's My Flat Dashboard by the next working day after the Option Date, along with a scanned copy of Page 1 of the OTP. Pay a processing fee of SGD 120 to HDB.

  4. Log in to HDB e-Service: Using NRIC number and SingPass to proceed with the submission.

  5. Follow the HDB e-Service Guide: Complete the submission process as per the guide on HDB e-Service.

  6. Await HDB Valuation: HDB determines the flat's value and releases its valuation within 7 business days.

  7. Receive Official Valuation Report: Report details the market value of the flat.

Practical Scenario on HDB Valuation

Suppose Mr. Tan is interested in purchasing an HDB resale flat in Tampines and has found a seller, Ms. Lee, who is selling her 4-room flat. They negotiate and agree on a selling price of SGD 450,000. The next steps would unfold as follows:

  1. Agreement on Price: Mr. Tan and Ms. Lee agree on the selling price of SGD 450,000 for the flat.

  2. Option to Purchase (OTP): Ms. Lee grants an Option to Purchase (OTP) to Mr. Tan, who pays an option fee to secure this agreement.

  3. Request for Valuation: Mr. Tan, intending to use his CPF savings and secure a housing loan, submits a Request for Value to HDB to initiate the valuation process. Following this, HDB assigns a valuer to assess the flat's market value. The valuer considers various factors including the recent transaction prices of similar flats in the area, the flat's condition, and its location among others.

  4. Official Valuation Report: The HDB valuer determines that the flat's market value is SGD 430,000. This figure is communicated to Mr. Tan and Ms. Lee through an official valuation report.

  5. Implication on Financing:

    • Housing Loan: Mr. Tan can now secure a housing loan based on the valuation price of SGD 430,000. If he opts for an HDB loan, he could potentially loan up to 90% of the valuation price, i.e., SGD 387,000.

    • CPF Usage: The amount Mr. Tan can use from his CPF Ordinary Account would also be based on the valuation price of SGD 430,000.

    • Cash Over Valuation (COV): Since the agreed price is SGD 450,000 and the valuation price is SGD 430,000, the COV is SGD 20,000. Mr. Tan would need to pay this amount in cash to Ms. Lee.

With the valuation complete, and the financial aspects clarified, Mr. Tan and Ms. Lee can now proceed to finalise the transaction.

Through this example, it's evident how the HDB valuation process is pivotal in determining the financial commitments of the buyer, and how it aligns the transaction to the fair market value of the flat, ensuring a transparent and fair transaction process for both parties involved.

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