Mobility wins, more buzz in million-dollar HDB market with lifting of 15-month wait-out period
Without the need to wait 15 months, more owners may trade private homes for premier HDB resale units
[SINGAPORE] Kudos to the government for removing the 15-month wait-out period for private homeowners looking to buy a Housing & Development Board (HDB) flat in the resale market.
The 15-month wait-out restriction, which applied to private residential property owners after disposing of their private home before they could purchase a non-subsidised resale flat, was introduced as a temporary measure in end-September 2022. The intention was to moderate demand in a rapidly heating resale sector, and promote sustainable conditions in the housing market.
To better support the retirement needs of seniors, Singapore citizens aged 55 and above were exempted from the wait-out period if they moved from their private home to a four-room or smaller non-subsidised HDB resale flat.
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