Photo credit: Housing and Development Board’s website
The Housing and Development Board (HDB) of Singapore has unveiled a new resale flat listing (RFL) service, which lets homeowners list their flats for sale or hire an estate agent for the job.
Called the HDB Flat Portal, the platform enables buyers to browse and compare new and resale flat options. Meanwhile, homeowners will be able to automatically fill listings with details such as the address, flat type, and floor area using HDB’s data.
Sellers will also be notified if they list a price more than 10% above the highest recent nearby price, making for a “more sustainable property market in the long run,” according to HDB.
Although a soft launch of the HDB Flat Portal has already occurred, the official unveiling is scheduled for later this month.
The free service aims to create a “transparent, reliable, and trusted marketplace” for listing and transactions of HDB resale flats, the board said.
The list of flats available for sale on the open market will be consolidated with the current data on the HDB flat portal, which includes new build-to-order flats, loan services, and financial tools. Sellers need a valid intent to sell, and buyers need an HFE letter to access the full suite of services.
Such a platform is poised to directly compete with established property portals in the city-state, such as PropertyGuru and 99.co. The former previously said that it is exploring M&A options as well as AI integrations to boost its business.
See also: PropertyGuru looks past slowing revenue growth in Q1, talks up AI and M&A
Editing by Miguel Cordon and Lorenzo Kyle Subido
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