The Housing and Development Board (HDB) Flat Portal has removed 50 listings for resale flats, The Straits Times (ST) reports.
The listings made up about 5% of the total active listings on the portal as of 26 June.
Source: PropertyGuru
According to ST, HDB said that half of these listings had unrealistic prices. After some users revised their asking prices, eight of them were reinstated.
HDB added that it reserved the right to moderate listings on its portal and remove any inappropriate or inaccurate content without issuing prior notice.
HDB did not reveal what the unrealistic prices were, nor the misinformation that caused the removal of the listings.
Launched on 30 May, the service lets homeowners or property agents put up listings directly on it via HDB’s website. The service is currently free and available for sellers with an intent to sell.
It also contains a feature to prompt sellers if the price they had listed had come to at least 10% above the highest transacted price of similar units within the vicinity in the past six months.
HDB said that sellers can then make an informed decision on their listed price, leading to a more sustainable property market in the long run.
The resale flat listing portal was created as a transparent and trusted marketplace for sellers, property agents, and buyers.
The board added that the portal received about 366,500 visits from 30 May to 18 June. This translates to over 18,300 visits a day.
“HDB will continue to monitor the listings closely and will not hesitate to remove listings with unrealistic pricing as well as inappropriate and/or inaccurate content,” they said.
This isn’t the first time flat listings in Singapore have been flagged for having misleading information either.
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Featured image adapted from PropertyGuru.
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