MARKET INSIGHTS
15-Month HDB Wait-Out Period Removed: What Does It Mean for Private Property Owners?
Private property owners can now buy eligible HDB resale flats without waiting 15 months — but there are still important conditions to understand.
Published 9 Sep 2026
The 15-Month Wait Is Gone
From 28 July 2026, private residential property owners and former private property owners no longer need to serve the previous 15-month wait-out period before purchasing a non-subsidised HDB resale flat, provided they are not taking an HDB housing loan.
The change comes after several quarters of moderation in the HDB resale market. HDB's Resale Price Index declined by 0.1% in Q1 2026 and 0.3% in Q2 2026, following a period of slower price growth.
For private homeowners who have been considering downsizing, this removes one significant barrier.
But there is an important distinction: the 15-month wait has not been removed for every type of HDB purchase.
Why Was the 15-Month Rule Removed?
The 15-month wait-out period was introduced in September 2022 as part of the property cooling measures. At the time, the aim was to prevent former private property owners from adding further demand to the HDB resale market and to prioritise public housing for households with greater housing needs.
Four years later, the market has changed.HDB resale prices have shown signs of stabilisation, while a growing number of BTO flats are expected to reach their MOP and enter the resale market. The number of flats reaching MOP is expected to increase from around 8,000 in 2025 to 13,500 in 2026, 15,000 in 2027 and 19,500 in 2028.
With more resale supply coming through and price growth moderating, the Government has assessed that the 15-month restriction is no longer necessary.
Who Benefits From This Change?
The most obvious beneficiaries are private property owners who are looking to downgrade or right-size.
For example, someone living in a larger condominium may have accumulated significant equity in their property. Selling the condo and moving into an HDB resale flat could potentially reduce their housing costs and release capital for retirement, other investments or family needs.
The change may be particularly relevant to:
• Empty-nesters looking to move into a smaller home
• Older homeowners looking to unlock housing equity
• Families who want to remain in a particular neighbourhood
• Private homeowners who had already sold their property and were waiting out the 15 months
• Owners who prefer a resale HDB flat over committing to a new BTO
Is This Going to Push HDB Resale Prices Higher?
Possibly — but I wouldn't assume that the entire HDB market will suddenly surge. The removal of the wait-out period opens the door to a group of buyers who were previously unable to enter the resale market immediately.
Early market data suggests that interest has been particularly noticeable at the higher end. PropertyGuru's internal data showed enquiries for HDB flats priced at $1 million and above increased 154% in the first full week after the policy change, compared with around 8% for flats around the $200,000 price range. It's important to remember that enquiries are not completed transactions. They are better viewed as an early indication of where buyer interest may be concentrated. And there is a logical reason why larger and better-located flats could attract more attention.
A private homeowner selling a condo may have substantially more equity available than a typical first-time HDB buyer. They may therefore be looking for a larger five-room flat, an Executive flat, a high-floor unit, or a resale flat in a location that fits their existing lifestyle. This could create stronger competition for scarce, well-located resale flats, rather than necessarily lifting prices across every HDB segment.
What About the Private Property Market?
Some private homeowners will now be able to sell their condo or landed property and move into an HDB resale flat much sooner. If more homeowners choose to do this, it could mean more private properties coming onto the resale market as these owners sell their existing homes. That could increase choice for buyers looking for resale condos, although whether it translates into lower prices will depend on how much additional supply actually enters the market.
Don't Forget Seller's Stamp Duty
If you're selling a private property, you still need to consider whether Seller's Stamp Duty (SSD) applies. The removal of the 15-month HDB wait does not remove your SSD obligations.
Before deciding to sell, check:
Are you still within the applicable SSD period?
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How much outstanding mortgage do you have?
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How much CPF will be refunded?
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What will your actual net proceeds be?
This is particularly important for owners who are trying to decide whether selling now or waiting makes more financial sense.
What This Policy Really Changes
Previously, private property owners who wanted to move into an HDB resale flat had to account for a 15-month wait, which could mean renting temporarily, staying with family or simply putting their plans on hold. With the wait-out period now removed for eligible purchases, they have much more flexibility to plan the transition directly.
For those who have already decided that moving into a smaller, lower-cost HDB flat, whether to right-size, reduce housing commitments or unlock equity, this is a meaningful change. That said, I wouldn't take the removal of the wait-out period as a reason to rush into the HDB market. With more resale flats expected to reach their MOP in the coming years and private property prices also growing at a more measured pace, the better decision will ultimately depend on your current property, your finances and the specific HDB flat you're looking to buy — rather than the policy change alone.
Final Thoughts
If you're considering selling your condo and buying an HDB resale flat, the first step isn't necessarily finding a buyer or viewing flats.
It's working out the numbers.
• How much will you actually receive after selling?
• What HDB budget makes sense?
• Should you sell first or buy first?
• And which HDB flats fit both your finances and your next stage of life?
Those are the questions worth answering before making the move.
Let's Talk About Your Situation
If this article helped answer some of your questions but raised a few new ones, you're not alone. Every property journey is different. If you'd like to discuss your own situation or have a question after reading this article, feel free to leave me a message below.
