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

Approximately 50 listings for resale Housing Board flats were recently removed from the HDB Flat Portal due to unrealistic pricing or misleading information. HDB emphasized its right to moderate listings on the resale flat service, removing inappropriate or inaccurate content without prior notice.

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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.

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Essentially, an unofficial “price-ceiling” has been approved by the ruling government for HDB resale flats.

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Last edited 15 minutes ago by Blankslate

Flats and accommodation of all and various types is UNDER the CONTROL of PAP Administration via HDB when it was designed as a Govt Service for SGpn needs BUT HIJACKED by the Regime as a DEADLY WEAPON to win votes by fear, threats, and what nots. And the induction of Foreign Trash into SG is only a utility to FAKE artifical demand (market?) so tt SG feel rich, and really do at times dependent on whims and fancies of PAP wishing to make a chosen few happenstance at a certain epoch of times to cash in or out. Ministers are… Read more »

What ever happened to the “free market” and that every HDB leaseholder believes their unit is better, bigger and beautifuller than the next one, … which is not too dissimilar to how the ministers rate themselves, their abilities and their salaries !!! Just let the buyer beware, … and allow nature and economics to take its course. So what if all hdb resales hit the 2 million mark as per norm. Rather late to attempt to rein in it’s pricing, … especially after this regime had done all it did, in promoting and pushing it’s value and viability to where… Read more »

In broad terms and caveats, $500 is ONLY for Civil servants. Where are the specifics? As against others who are obstructed to receive $500 of tax payers money – begs the Question WHY.

WHY ONLY POLITICISE the Civil Service when it IS RIGHTFULLY Civil Service IS NO different from ALL other 5 Million Singaporeans – BASED on the PAP Mandated COERCE Pledge.

Is it fully transparent this removal action? Could it be helping certain related entities and strike out competition? Who knows.
Who audit.

With FULL NON TRANSPARENCY the way Millionaire Politicians STAMPEDE on citizens, the way BIASED reporting happens every time, can’t be helped to speculate in in SG many issues are CLOUDED esp those involved in authoritative powers.

A lot of corruption in Fantasy Island these days..
Some smart players are making tons of cash…..💰💰💰

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