Is the 15-Month Wait-Out Rule Going Away? What It Means for Buyers and Sellers

Authored by Raymond Tiah

A Rule That Changed the Resale Landscape — And May Be Reversed

When the 15-month wait-out rule was introduced in September 2022, it forced private homeowners to wait before purchasing a resale HDB flat.

The policy was designed to cool red-hot demand for larger flats, and it worked, at least at first.

But now, things are shifting again.

In Q1 2025, HDB resale price growth slowed to just 1.6%, the weakest quarterly gain in over a year. This has triggered a government review of the policy, and many are wondering: Is the rule about to be lifted?

Why Was the Wait-Out Rule Introduced?

The rule targeted former private property owners looking to downgrade. By pausing their access to the resale market, the policy aimed to:

• Reduce competition for 5-room and executive flats

• Stabilise price growth in the public resale segment

• Prioritise genuine home-seekers over asset shufflers

Initially, this caused a dip in large flat sales — but by 2024, the first wave of downgraders returned. Prices surged once again, particularly for spacious, well-located units.

Has the Market Stabilised Enough for Change?

Analysts say the signs point to a cooling market:

• Price growth is slowing

• More BTO supply is coming online, with 75,800 delayed units now completed

• Many downgraders have already served their 15-month period

However, caution remains. Some experts warn that demand still outweighs supply, especially in prime MOP estates, where prices remain resilient.

What Could Happen Next?

If the rule is lifted:

• More private homeowners can re-enter the HDB resale market sooner

• Demand for 5-room and executive flats could rise again

• Prices may see renewed pressure — especially for well-renovated units in mature estates

If you’re planning to sell your flat, buy for the long term, or upgrade strategically, now is the time to monitor policy shifts closely.

Final Thoughts: Policy May Shift — Will You Be Ready?

Singapore’s property market is never static. And with the 15-month wait-out rule under review, the resale landscape could shift quickly once again.

The best move? Stay informed, and act from a position of clarity, not confusion.

📩 Want help strategising your next step before policies change?
Let’s talk through your options, whether you’re planning to buy, sell, or wait.

🔴 Follow @raytiah318 for timely updates and no-fluff advice on navigating today’s resale market.

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