Come end 2020, HDB flat buyers will be able to complete their transaction all on a single platform. This includes listing, advertising and completing the resale application process.
Single HDB transaction platform to make selling, buying easier
Last year, the Housing Board has already revamped its online portal to allow buyers to compare short-listed resale flats and to understand the leases left on those units.
This new change will allow buyers not only to do that but also list their units, advertise for them and complete the entire resale application process within the same platform.
National Development Minister Lawrence Wong said that he hopes this move will help buyers make informed decisions.
With the policy changes that were in force this week, demand for resale HDB flats is expected to rise as more aid will be given in the forms of raised income ceiling and a new housing grants scheme.
These moves are designed to help first-time buyers secure a unit more quickly and more affordably, in the hope that young couples will be able to start families sooner.
The new platform will be an enhancement to existing ones in the market
Mr Wong has also said that this new platform will “complement existing property portals and help property agents make real estate transactions more convenient and efficient.”
The new platform will also have features such as financial calculators with customised information to help buyers estimate their housing budget and sales proceeds.
The authorities are also looking to engage industry players in the growth of the platform.
See more: 8 facts you didn’t know about HDB flats