Ultimate guide to Singapore HDB resale price and HDB resale portal

    

So you need to purchase a house. Obviously, the best-priced choices are HDB units — and you have the choice to ballot for a Build To Order (BTO) unit or search for a promptly accessible HDB resale that accommodates your personal and family needs. 

Basically, an HDB resale is an HDB apartment that was own by another person. You get it from somebody who has lived there for a minimum of 5 years, yet these flats are much a decent choice for individuals who would prefer not to voting form or sit tight for a BTO level. There's additionally no assurance that balloting for an HDB BTO level will promise you a guaranteed accommodation, and in some cases, the accessible BTO ventures aren't in the purchaser's ideal location. 

A. Singapore HDB resale price

Below is an overview of the HDB resale level prices in Singapore: 

Source: HDB resale price index portal, average transaction prices (4-room resale flat), June 2019 to June 2020

B. HDB Resale price versus BTO prices 

Let’s also take a look at the prices for the recent HDB BTO launches:

Source: HDB

Do note that although prices of BTO flats are by and large still more costly, it isn't really sometimes that pricier. Let's look at the cases of Sembawang (non-develop) and Ang Mo Kio (develop) for instance. Prices for a 4-room HDB BTO level in Sembawang start at $272,000, while normal prices for a 4-room HDB resale level in Sembawang are about $353,000. It's likewise very noticeable that Ang Mo Kio, prices for a 4-room HDB BTO level there start at $451,000, while the normal price for a 4-room HDB resale level is $446,000. 

C. More research tools for HBD Resale Price

You can also get a better idea of the HDB resale market trends and make a more informed decision with these below resale statistic tools.

• HDB Map Services: get past resale transacted prices for specific locations, for example, in a particular block or street. 
• Resale Flat Prices: check past HDB resale transacted prices (up to 2 years) by flat type and town/ street.
• Resale Price Index (RPI): RPI for 2nd Quarter 2019 to 2nd Quarter 2020
• Median resale prices for registered resale applications: the median resale prices by town and flat type for resale cases registered in the 2nd Quarter of 2020
• Resale applications registered: Total number of resale applications registered sorted by quarter and flat type.

D. About HDB Resale Portal 

The HDB Resale Portal standardized and centralized all the HDB resale processes, and gives a from-A-to-Z guide for home-purchasers and sellers. Below are the summarized step-by-step instructions for your entire HDB resale purchase process: 

1. Declare your plan to purchase/sell 

You should declare your intent to purchase or resell an HDB on the HDB Resale Portal. The Government MyInfo will then automatically retrieve all your personal particulars. 

2. Obtain an Option to Purchase (OTP) 

When you have confirmed your HDB purchase choice, you should request an OTP from the vender, which will be valid up to 21 days. 

3. Pick your own method of financing 

As an HDB-purchaser, you should choose how you want to conduct your payment. You can either utilize money, CPF reserve funds, or get a loan in advance. In case you wish to get a HDB loan, you can visit the HDB Resale Portal which will provide detailed instructions for an application for HDB Eligibility Letter. 

4. Request for Valuation for your targeted HDB 

You need to submit a request to HDB to affirm the loan quantum and the measure of CPF investment funds you can utilize if you are planning to finance the HDB unit with your CPF reserve funds or home loan, which will requires a processing fee of $120 (counting GST). Do note that the request can only be submitted after the seller has provided you an OTP. 

In the event that HDB requires valuation of the unit to be done, HDB's designated valuer will complete the HDB investigation within 3 working days subsequent to informing the HDB sellers. You then can check the HDB valuation in the HDB Resale Portal within 10 working days from the review date. 

5. Apply for an HDB resale 

Both HDB purchasers and sellers must present their particular bits of the resale application with the supporting records to the HDB Resale Portal, after the OTP has been worked out. They should pay a regulatory charge, contingent upon the HDB types. 

HDB will check the data and advise the purchasers and dealers of the application result, usually within two months. 

6. Endorse the HDB resale 

After HDB has set up the necessary document for you and your dealers, the two of you must endorse them within 6 days. 

7. Settle the resale payment 

Purchasers and dealers are needed to pay for the legal fees via the HDB Resale Portal. 

8. Receive approval result from HDB

HDB will advise both you and your dealers once the application has been affirmed. The approval letter will be accessible on the HDB Resale Portal. 

 
9. Complete the appointment arrangement 

Both purchasers and dealers must participate in the Completion Appointment at HDB Hub to finish the resale process.