The question of whether the HDB should remove the 15-month wait-out period for private property downgraders returning to public housing has sparked considerable debate. The temporary measure was introduced in 2022 to moderate demand and prices for resale flats and today on 28 May 2025 (Wednesday), the Minister for National Development Chee Hong Tat said the government may review or remove the 15-month wait-out period imposed on private property owners seeking to downgrade, when prices of public housing resale flats begin to moderate.
The wait-out period before private property owners are allowed to purchase a non-subsidised Housing and Development Board (HDB) resale flat was introduced in 2022 as a temporary measure to address concerns about rising resale flat prices but recently prices of resale HDB flats have started to show some moderation as resale prices of public housing flats grew at a slower rate of 1.6 per cent over the past quarter compared to the 2.6 per cent price increase in the fourth quarter of last year, and the average quarterly growth of 2.3 per cent in 2024, latest data released by HDB showed.
The 1.6 per cent growth therefore marked the slowest pace of price increase since the first quarter of 2024.
Some analysts expect resale prices to remain elevated as they estimate 6,974 resale flats to hit the market in 2025 after owners fulfil their MOP – the lowest in 11 years since 5,301 units reached their MOP in 2014. Still, supply of MOP flats is expected to recover and more than double to 13,480 units in 2026.
Here are some key arguments for removing the 15-Month Wait-Out Period:
- Unfair Hardship to Retirees and the Elderly
- Many older Singaporeans sell their private homes to right-size and cash out for retirement.
- A blanket 15-month wait creates financial strain, as some may have to rent during the interim — a costly and disruptive option.
- Case-by-Case Flexibility May Be Better
- Not all private property sellers are profit-driven. Some may face divorce, health issues, or financial distress.
- A blanket policy punishes genuine need and doesn't reflect nuance.
- Exacerbates Rental Market Pressures
- The enforced waiting period has increased rental demand, pushing up rental prices across the board — even for lower-income households.
- The enforced waiting period has increased rental demand, pushing up rental prices across the board — even for lower-income households.
- Public Housing Should Remain Accessible
- If someone has genuinely transitioned into needing public housing, rigid policies may appear to contradict HDB's mission of inclusivity and support.
In land-scarce Singapore, freehold properties in District 9 are becoming rarer. The Robertson OPUS offers long-term value and legacy potential — an asset to be passed down through generations. Launching Soon.
Last year, the Housing and Development Board (HDB) announced they had acceded to 25 per cent of appeals filed by private property owners seeking to waive the 15-month wait-out period ahead of their purchase of an HDB resale flat. Of the 3,470 appeals HDB received between Sep 30, 2022 and Dec 31, 2023, about 850 were approved.
These were mostly cases involving individuals in financial difficulties and without alternative housing options, or those who furnished evidence that they had committed to sell their private residential property, or those who were buying an HDB resale flat before Sep 30, 2022, a day after the new wait-out period was announced.
Associate Group Director of Propnex Realty, Kiwi Lim felt that the 15-Month Wait-Out Period may not be removed entirely — but probably should be recalibrated. A rigid one-size-fits-all rule may miss the mark. For elderly, retirees, divorcees, or those in genuine need, the HDB could consider shortening or waiving the wait-out period. Singapore’s housing policies are known for adaptability and precision, and this is one area that could benefit from targeted adjustments that balance social fairness with housing market stability.
“Once we see more supply coming in, coupled with more new BTO flats entering the market, I think we will see moderation in the resale flat prices in the years ahead,” said Minister for National Development Chee Hong Tat.
Source: The Straits Times © SPH Media Limited.
RSS Feed
