Should the 15 Month Wait Out Period Be Removed? A Closer Look
- Megan Soo
- Jun 3
- 2 min read
In 2022, the Singapore government introduced a 15-month wait-out period for private property owners who sell their homes and want to buy an HDB resale flat. This rule aimed to cool demand and slow rising HDB prices. But now, with the market stabilising, experts are asking: Is it time to lift this restriction?
Why Was the Wait-Out Period Introduced?
Private property owners were rushing into the resale market, driving up prices.
The policy aimed to deter speculative buying and ensure resale flats remained accessible to genuine first-time buyers.
What’s Changed Since Then?
HDB resale price growth has slowed. Prices rose just 1.7% in Q1 2024, down from a peak of over 12% in 2022.
Supply is improving as more BTO flats are being completed.
The cooling effect has worked—but now it may be punishing genuine downgraders.
What Experts Are Saying
Many believe the rule may be too rigid, especially for:
Retirees looking to unlock cash from their private homes.
Households facing financial strain.
Analysts suggest a more targeted approach, such as:
Exemptions for seniors or families in hardship.
Allowing purchase with tighter eligibility (e.g. income ceiling, minimum occupancy period).
Key Considerations Moving Forward
Removing the rule could increase demand and lift prices again, especially for 4- and 5-room resale flats.
Keeping the rule may be unfair to genuine downgraders with real housing needs.
What This Means for Homeowners
If you're a private property owner thinking of downsizing into an HDB, this rule currently affects your timeline and options. But with policy reviews possibly on the horizon, flexibility may return—especially if public sentiment and housing data support it.
Final Thought
Housing policies must balance affordability, fairness, and flexibility. As Singapore’s market evolves, so too must the rules that guide it. Watch this space—changes may be coming.
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