More than 600 resale flats have been listed for sale on the Resale Flat Listing (RFL) service on the HDB Flat Portal since it was soft-launched on May 13, 2024, the Housing and Development Board (HDB) said in a press release on May 31.

The RFL service was officially launched on May 30.

It aims to create a transparent, reliable and trusted marketplace for HDB resale flats for sellers, buyers and property agents, HDB said.

To be used by buyers, sellers and appointed property agents

Flat sellers can list and market their flats on their own or appoint a property agent to manage their flat listing on their behalf.

A guide has been created for flat sellers.

Prospective HDB flat buyers and their appointed property agents can now browse the resale flat listings and carry out transactions directly with the flat sellers or the sellers’ appointed property agents.

A guide has been created for flat buyers.

Listings with unrealistic pricing can be removed

The RFL service has an automatic built-in feature, where sellers will be prompted if their listing price exceeds the highest transacted price of nearby units of the same flat type in the past six months by 10 per cent or more.

HDB reserves the right to remove listings which have unrealistic pricing or contain misleading information from the portal.

Sellers will be able to make a more informed decision on the listed price for their unit, which also makes for a more sustainable property market in the long run, HDB said.

How system works

The press release also explained how the system works with or without the facilitation of property agents.

The authenticated access to the HDB Flat Portal via Singpass for all users is to create a more secure and conducive marketplace for sellers and buyers of HDB flats to transact, HDB explained.

Flat sellers must have a valid "Intent to Sell" before they can list their flat, and each seller can only post one flat listing to ensure that there is no duplicative listing for the same flat.

Prospective flat buyers must have a valid "HDB Flat Eligibility" letter before they can obtain the sellers’ contact details and/ or schedule viewing appointments through the HDB Flat Portal.

HDB added that prospective buyers are advised to plan their budget carefully, considering their income, renovation needs and mortgage financing ability, and exercise financial prudence in their flat purchase to avoid overstretching themselves.

If buyers or sellers have to, they can get their appointed property agents to use the personalised dashboard to manage their activities.

Top photo via HDB Resale Flat Listing