HDB has removed the 15-month wait-out period for eligible private homeowners buying a non-subsidised HDB resale flat. Introduced in 2022 to cool the resale market, the measure will no longer apply amid improvements in housing supply, while price growth has moderated.
This change is expected to benefit genuine right-sizers while supporting a more balanced housing market. Below is a summary of the key changes and what they mean for homebuyers and property owners.
15-Month Wait-Out Period Removed
Eligible private residential property owners can now purchase a non-subsidised HDB resale flat immediately after selling their private home. They no longer need to observe the previously required 15-month waiting period.
Why the Rule Was Introduced
The wait-out period was introduced in September 2022 as part of the Government’s property cooling measures. It aimed to moderate demand from cash-rich private homeowners, whose purchases were contributing to rapid growth in HDB resale prices.
Why the Policy Has Been Removed
- The Government believes the HDB resale market has become more stable due to several factors, which include:
- Slower growth in resale prices.
- A substantial increase in housing supply.
- More Build-to-Order (BTO) flats being completed.
- A growing number of resale flats entering the market as owners fulfil their five-year Minimum Occupation Period (MOP).
More Housing Supply on the Way
Housing supply is expected to improve further in the coming years, with more than 50,000 BTO flats planned over the next three years, while thousands of existing flats will become eligible for resale after reaching their MOP. This should help better balance supply and demand.
Benefits for Genuine Right-Sizers
The removal of the wait-out period primarily benefits private homeowners who wish to right-size. Many older homeowners and families can now move into a resale HDB flat sooner, allowing them to unlock housing equity without an extended waiting period.
Government Will Continue Monitoring the Market
The Government emphasised that it remains committed to keeping public housing affordable and accessible by monitoring market conditions closely and stands ready to introduce further measures if necessary to maintain a stable and sustainable housing market.
What This Means for the Property Market
The policy change is likely to encourage more private homeowners to right-size, particularly those seeking larger resale HDB flats. While demand may receive a modest boost, the Government expects the significant increase in housing supply to help keep the resale market balanced and prevent excessive price growth over the longer term.
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