Singapore’s Ministry of National Development has officially scrapped the 15-month wait-out period that previously prevented individuals who had recently sold private residential properties from buying resale Housing Development Board (HDB) flats. The policy, which was originally implemented as a temporary measure to moderate demand in the resale market, has been removed effective immediately.

Minister for National Development Chee Hong Tat announced the policy shift on Tuesday. He acknowledged that the rule had caused significant inconvenience for citizens who needed to transition into public housing due to changing life circumstances or financial requirements. By removing this barrier, the government intends to provide more flexibility for homeowners looking to downsize or relocate.

Despite this relaxation, the government emphasized that the broader framework of property cooling measures remains in place. Officials noted that the housing market has shown signs of stabilization, allowing for the removal of this specific restriction without triggering a surge in demand that could destabilize prices. The government continues to monitor the market closely to ensure that public housing remains affordable and accessible for the majority of Singaporeans. While the 15-month wait is gone, other regulations regarding property ownership and resale eligibility continue to apply, ensuring that the market does not overheat as a result of this policy adjustment.