Among the portal’s features include a customised financial calculators that will help buyers estimate their housing budget as well as help sellers estimate their sales proceeds.
The Housing and Development Board (HDB) has launched a new one-stop portal that will further simplify and streamline the process of buying and selling HDB flats.
To be rolled out progressively, the HDB Flat Portal will make it “more convenient for home buyers and sellers to gather information on the purchase or sale of a flat through a single integrated platform”, announced National Development Minister Desmond Lee in a Facebook post on Wednesday (13 January).
Among the portal’s features include a customised financial calculators that will help buyers estimate their housing budget as well as help sellers estimate their sales proceeds.
There will also be a flat-listing service offering information on current and upcoming Build-to-Order (BTO) flats, enabling buyers to compare their housing options holistically.
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The portal also comes with “a one-stop loan listing service for buyers to obtain information on housing loans offered by both HDB and participating financial institutions”, said Lee.
He revealed that HDB is also looking at including resale flat listings in subsequent phases of the portal’s rollout.
“The HDB Flat Portal is the second phase of the HDB Resale Portal launched in Jan 2018,” he said.
He noted that the HDB Resale Portal has slashed the time needed for resale flat transactions to about eight weeks from 16 weeks previously.
OrangeTee & Tie Senior Vice-president of Research and Analytics Christine Sun said the new portal is particularly helpful for those who may not be IT-savvy or familiar with property searches.
Suggested read: How to Pay for a Resale HDB Flat: A Step-by-Step Guide
“It is good to have a single integrated platform to obtain most of the essential information for making a property transaction,” she said.
She added that some people may use the portal’s suggested payment plan as a reference or benchmark when talking to property or bank consultants before buying a resale flat.
“The ‘upcoming build to order’ section is also helpful for buyers as they can now view the upcoming BTO information and subscription rates of previous launches in one website. The reorganization of information will speed up the search process for buyers,” she said.
However, she urged HDB to consider including “past subscription rates and indicative prices of earlier BTO launches by towns beyond the last one year”.
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