Reasons for Rising Trend of Appeals to SISV to Review Valuations Made for HDB Resale Flats

Mr Melvin Yong Yik Chye asked the Minister for National Development (a) whether the Ministry has studied the reasons behind the rising trend of appeals to the Singapore Institute of Surveyors and Valuers (SISV) to review the valuations made by an independent valuer for a HDB resale flat; and (b) what is the number of re-valuation appeals that SISV has received in 2022, 2023 and 2024 to date.

Mr Desmond Lee: There is no rising trend of appeals. From 2022 to 2024, there was a decrease in the number of appeals to the Singapore Institute of Surveyors and Valuers to review the valuations made by independent valuers for resale Housing and Development Board flats. The number of appeals decreased from 13 in 2022 to five in 2023; and three in the first ten months of 2024.