The Ministry of National Development (MND) and the Housing & Development Board (HDB) are evaluating whether to make the Resale Flat Listing (RFL) service mandatory for all sellers of Housing & Development Board (HDB) flats. This review comes after the service's official launch in May 2024, which has seen over 12,500 flat listings to date.
The RFL service, introduced on May 30, 2024, allows sellers or their appointed property agents to list flats directly on the HDB Flat Portal. This platform enables prospective buyers to browse listings and arrange viewings, streamlining the resale process. Since its launch, more than 600 units have been listed, indicating a positive reception from the public.
Currently, using the RFL service is voluntary. Sellers can choose to list their flats on the portal or use other channels. The ongoing review by MND and HDB aims to assess the effectiveness of the service and determine if making it compulsory would further enhance the transparency and efficiency of the resale market.
The potential move to mandate the RFL service has sparked discussions among stakeholders. Proponents argue that compulsory listing could lead to a more standardized and transparent process, benefiting both buyers and sellers. However, some sellers express concerns about the flexibility of choosing their preferred listing methods and the potential costs associated with mandatory use of the portal.
As the review progresses, MND and HDB are engaging with various stakeholders to gather feedback and assess the implications of making the RFL service compulsory. The outcome of this evaluation will influence future policies regarding the resale of HDB flats.