SINGAPORE: Prospective buyers and sellers of public housing flats can now make use of a new one-stop portal launched by the Housing Development Board (HDB) to streamline the process.
The HDB Flat Portal will be rolled out progressively from Wednesday (Jan 13), Minister for National Development Desmond Lee said in a Facebook post.
"This new 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," said Mr Lee.
A customised financial calculator for buyers to check their budget and payment plan and sellers to estimate sales proceeds, and flat listings collating information on current and upcoming Build-to-Order (BTO) launches are among the portal's features.
The website will also have loan listings for buyers to get information on housing loans offered by HDB and participating financial institutions, said Mr Lee.
He added that HDB is looking to include resale flat listings in subsequent phases of the portal's rollout.
Its launch took place after a series of engagement sessions with industry players and stakeholders, he said.
"The HDB Resale Portal has halved the time needed for resale flat transactions from 16 weeks to around 8 weeks, and reduced the number of appointments with HDB from two to one," said Mr Lee.
"We will continue to look into ways to further improve the transaction process for HDB home buyers and sellers."
Buyers can use the suggested payment plan in the portal as a benchmark when talking to property or bank consultants prior to purchasing a resale flat, said Ms Christine Sun, head of research and consultancy at OrangeTee & Tie.
The section on upcoming Build-to-Order (BTO) flats is also helpful as buyers can view information on upcoming launches and subscription rates of previous launches in one website, speeding up the search process, she added.