The Singapore government has scrapped the 15-month wait-out period that previously required private property owners to wait before buying an HDB resale flat, according to EdgeProp.sg. The change, announced by Minister Chee Hong Tat, takes effect immediately.
The measure was originally introduced as a cooling measure to prevent private homeowners from flooding the HDB resale market. EdgeProp.sg reports that the removal aims to improve mobility for homeowners looking to downsize or switch housing types. Analysts cited by The Edge Singapore expect real estate agencies PropNex and Apac Realty to benefit from increased transaction volumes.
The Business Times notes that the policy shift could fuel more activity in the million-dollar HDB resale segment, as private property owners now face fewer barriers to entry. Stacked Homes questions whether the move will lead to further price increases in the resale market, which has already seen significant gains in recent years.
The Straits Times confirms that the change applies to all private property owners, including those who sold their homes before the announcement. The government has not indicated any additional cooling measures to offset potential price pressures from the policy reversal.
Market observers will watch for any uptick in HDB resale prices and transaction volumes in the coming months as private homeowners regain access to the public housing market.
