The Singapore government has removed the 15-month wait-out period for private residential property owners seeking to purchase non-subsidised Housing and Development Board (HDB) resale flats. This change, announced by National Development Minister Chee Hong Tat on July 28, 2026, takes effect immediately.
Introduced in September 2022 as a temporary measure to moderate demand and stabilize the HDB resale market, the 15-month wait-out period required private property owners to wait 15 months after selling their private property before buying a non-subsidised HDB resale flat. The policy aimed to curb demand from cash-rich private homeowners and ensure affordability for first-time buyers.
The decision to lift the wait-out period comes amid signs of market stabilization. HDB resale prices have declined for two consecutive quarters in 2026, with a 0.1% decrease in the first quarter and a 0.3% decrease in the second quarter. This follows five consecutive quarters of slower or no price growth from the fourth quarter of 2024 to the fourth quarter of 2025.
The removal of the wait-out period is expected to increase market activity, particularly among private property owners looking to downsize or upgrade. Industry experts anticipate a rise in demand for larger resale flats, such as five-room and executive units, as more private homeowners enter the market. However, they also note that the overall impact on resale prices may be moderated by a healthy supply of new flats entering the market over the next few years.
While the 15-month wait-out period has been lifted, private property owners must still sell their private property within six months of purchasing an HDB resale flat. This condition ensures that owners cannot hold both private and public housing simultaneously.
The government's move reflects a responsive approach to evolving market conditions, aiming to balance the interests of private homeowners and first-time buyers while maintaining the stability of the HDB resale market.