In a notable policy shift that could reshape Singapore’s residential property market dynamics, Minister Chee Hong Tat announced on May 28, 2025, that the government is considering the elimination of the 15-month wait-out period currently imposed on private property owners seeking to purchase HDB resale flats.
The minister made this announcement during his visit to the Toa Payoh Ridge BTO project, emphasizing that the potential removal is contingent upon continued moderation in HDB resale flat prices.
The wait-out period, implemented in 2022 as a temporary measure, was designed to stabilize the public housing market by preventing speculative transactions and ensuring genuine homebuyers had fair access to resale flats. Current regulations require private property owners to wait 15 months after selling their private property before being eligible to purchase an HDB resale flat, with the waiting period calculated from the completion date of the private property sale.
Recent market indicators suggest the policy has achieved its intended effect, with HDB resale prices now growing at a more sustainable 1.6% over the previous three months—the slowest quarterly growth since Q1 2024 and considerably lower than the 2.6% increase observed in the fourth quarter of last year.
This moderation compared to the average quarterly growth of 2.3% in 2024 provides the rationale for potentially lifting the restriction. Minister Chee attributed the previous acceleration in resale flat prices to a fundamental “supply and demand issue,” suggesting that the current stabilization indicates a healthier market equilibrium.
The existing policy has influenced homebuying timelines for those moving between properties, often necessitating interim housing arrangements during the mandatory waiting period. For affected homebuyers, the removal of this restriction would eliminate the need for temporary housing solutions and reduce financial strain associated with moving periods. Notably, the policy change would benefit couples who may purchase a flat together as a core family nucleus while establishing their new households.
This development comes as industry analysts predict a price growth slowdown to 4-6% in 2025, down from the 9.7% increase observed in 2024.
The pending policy review comes as Singapore anticipates a significant increase in housing supply, with approximately 13,480 MOP units projected to enter the market in 2026 following a period of limited availability.
The announcement aligns with HDB’s previous statements that the policy would be reviewed based on market conditions and housing demand patterns, reinforcing the government’s commitment to responsive housing policies that prioritize accessibility while maintaining market stability.
