HDB removes 50 resale listings from portal for unrealistic pricing and misinformation

SINGAPORE: Approximately 50 listings for resale Housing Board flats were recently removed from the HDB Flat Portal due to unrealistic pricing or misleading information.

This accounted for about 5% of the total active listings as of June 26, according to HDB’s announcement on 10 July.

Since its soft launch on 13 May, around 1,000 resale flats have been listed on the portal.

As reported by The Straits Times, HDB explained that about half of the removed listings had unrealistic pricing, though specifics were not provided.

Following revisions to their asking prices, eight listings were reinstated by their users.

The HDB emphasized its right to moderate listings on the resale flat service, removing inappropriate or inaccurate content without prior notice.

To have listings reinstated, sellers or their agents must adjust pricing or correct any misleading details.

Although HDB did not specify the nature of misinformation leading to removals, its website’s terms allow the removal of listings containing discriminatory content, false advertisements, or irrelevant material.

HDB reported over 366,500 visits to the portal from May 30 to June 18, averaging more than 18,300 visits daily.

“HDB will continue to monitor the listings closely and will not hesitate to remove listings with unrealistic pricing as well as inappropriate and/or inaccurate content,” it added.

The new Resale Flat Listing (RFL) service, integrated into the HDB Flat Portal, is designed to empower flat owners by providing them with the option to list and market their flats independently or through a property agent.

The portal is designed to offer a more transparent and secure marketplace.

It allows sellers to list their flats for free and includes a feature where sellers are automatically prompted if their listing price is “at least 10 per cent more than the highest transacted price for nearby units of the same flat type sold in the past six months.”

This is intended to help sellers make more informed decisions about their resale price, thus creating “a more sustainable property market in the long run,” according to HDB.

Buyers must possess an HDB Flat Eligibility letter to arrange viewings, confirming their eligibility to purchase a flat and access grants and financing options.