As the housing market in Singapore shows signs of cooling, there’s a glimmer of hope for private property owners keen to shift to HDB resale flats. A rule introduced on September 30, 2022, has required these owners to wait 15 months after selling their private property before buying a non-subsidised HDB resale flat. It was a tough measure, no doubt, aimed at taming skyrocketing resale prices by curbing demand from downgraders.
But now, with hints of change in the air, things might soon ease up for those itching to make the change. Minister for National Development Chee Hong Tat, who took office on May 23, 2025, recently shared some encouraging news. On May 28, 2025, he suggested that this 15-month wait-out rule isn’t set in stone. It was always meant to be a temporary fix for market imbalances, not a permanent roadblock. Recent data also indicates that HDB resale price growth has slowed to 1.6% in Q1 2025, signaling a cooling trend.
With resale price indexes showing signs of moderation, the government is keeping a close eye on trends. If prices stabilize further, Chee indicated, this restriction could be reviewed or even lifted. No exact timeline was given, but 2026 is shaping up as a key year to watch, especially as new supply enters the market. His vision includes ensuring that housing remains accessible for all Singaporeans, aligning with long-term affordability goals.
Why the potential change? Well, housing supply is expected to grow considerably. From 2026, more Build-To-Order (BTO) flats will be completed, and existing flats will pass their five-year Minimum Occupation Period (MOP), adding to the resale pool. Analysts from OrangeTee predict this influx will prevent any wild price surges, creating a more balanced market. The 20th consecutive quarter of positive growth in HDB resale prices suggests the market still has underlying strength despite cooling measures.
Back when the rule started, rapid price jumps were a real concern, but with supply catching up to demand, the need for such a restriction might fade. It’s a practical shift, one that reflects the government’s flexibility.
For private property owners under 55, who’ve felt the brunt of this waiting game, this news offers a light at the end of the tunnel. Seniors aged 55 and above already enjoy exemptions for smaller flats, but for others, patience may soon pay off.
As Chee emphasized, the focus is on letting the market adjust naturally, and updates will keep everyone in the loop. Here’s to hoping for smoother changes ahead!
