The Housing Development Board (HDB) will launch a new Resale Flat Listing (RFL) service on the HDB Flat Portal on 13 May that allows homeowners and buyers to make resale flat transactions online.
HDB aims for the service to “become a trusted listing marketplace for genuine buyers and sellers”.
Along with viewing flat listings, buyers can also set up viewing appointments via the portal.
Source: HDB
The service will be free for the time being.
HDB said in a press release on 12 May that the soft launch will begin on 13 May. It’ll allow early access to eligible flat sellers and their appointed property agents to familiarise themselves with the portal’s features.
The official launch will be later this month. HDB has not confirmed an exact date yet.
The service allows flat sellers and appointed property agents to list flats and carry out transactions on one platform. Meanwhile, flat buyers can “consider new and resale flat options holistically” to make informed decisions.
To use the platform and all its features, flat sellers will need to have a valid Intent to Sell, while buyers will need a valid HDB Flat Eligibility (HFE) letter.
An HFE letter outlines one’s eligibility to buy a flat and receive grants as well as other financing options.
Through the service, listings will be automatically filled with details such as the address, flat type, floor area, and floor plan from HDB’s data.
To ensure no duplicate listings, sellers can only post once.
Source: HDB
Only those with a valid HFE letter can obtain sellers’ details or schedule viewing appointments through the portal.
“Once the sellers have found a flat buyer who exercises the Option to Purchase (OTP), they can proceed to submit their resale application on the HDB Flat Portal,” HDB added.
Through the HDB Flat Portal, buyers can obtain information about current and upcoming new flat launches, as well as resale flats.
“They can filter searches by location, flat type, remaining lease, or based on their ethnicity and citizenship under the prevailing Ethnic Integration Policy (EIP) and Singapore Permanent Resident (SPR) quotas,” HDB said.
Additionally, they can customise a search profile and get email alerts whenever there are new and resale flat listings that match their preferences.
Within a single flat listing, buyers can view the following information:
Source: HDB
Buyers can also view personalised payment plans based on approved housing grants and HDB loan amounts if eligible.
Flat sellers who are interested in using the RFL service may refer to an online user guide for more information or the FAQs on the soft launch platform.
HDB said it “reserves the right to remove listings which have unrealistic pricing or contain misleading information” from the portal. It may also seek clarifications from the seller or property agents, The Straits Times (ST) reported.
“The Government will not condone behaviour, whether by sellers or their property agents, that seeks to disrupt the market or fan consumer sentiment,” it added. It will also work with the Council for Estate Agencies (CEA) to investigate and take enforcement action if property agents are suspected of professional misconduct.
Also read: 68 HDB flats resold for at least S$1M in April, most were in Kallang-Whampoa area
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Featured image adapted from Hongbin on Unsplash.
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