Singapore Markets closed

New HDB resale portal to cut 16-week processes

New HDB resale portal to cut 16-week processes

It will be rolled out on 1 January 2018.

The Housing and Development Board (HDB) will launch an HDB resale portal on 1 January 2018 in order to reduce the length of resale applications from 16 weeks to eight.

According to a press release, through the portal, buyers and sellers of resale flats will be able to use their SingPass to auto-populate their application forms, conduct eligibility checks, and complete resale applications.

HDB said that it currently requires two appointments with the board in order to finish a transaction. Before the first appointment, buyers and sellers must also check off the items in an online resale checklist, which includes a section on financial planning.

With the proposed portal, all eligibility checks will be done on a single platform. Users will also be able to view housing loan options.

Appointments with HDB will also be reduced from two to one as forms and checks would be completed through the portal.

The current HDB-prescribed OTP form will be valid until 31 December 2017.



More From Singapore Business Review