Is it time to remove the 15-month wait-out period for private property owners eyeing HDB resale flats?

[SINGAPORE] Lifting the 15-month wait-out period for owners of private homes seeking to buy public housing flats may trigger a rebound in resale prices, analysts said, as tight supply and firm demand continue to underpin the market despite signs of price moderation.

The temporary restriction was introduced in September 2022 and requires private property owners to wait 15 months after selling their homes before they can buy a non-subsidised Housing and Development Board (HDB) resale flat. Seniors aged 55 and above moving into four-room or smaller flats are exempt.

New National Development Minister Chee Hong Tat recently said that the government may review or remove the wait-out period when HDB resale flat prices begin to moderate. Some think the market is showing early signs of that, with resale prices of public housing flats growing at a slower rate of 1.6 per cent over the previous three months.