15-month wait-out period for private property owners to buy HDB flats removed: Chee Hong Tat

SINGAPORE: The 15-month wait-out period for people who sell private homes to buy Housing and Development Board (HDB) flats will be removed with immediate effect, said National Development Minister Chee Hong Tat on Tuesday (Jul 28).Speaking at the 11th Singapore Economic Review Conference, he said HDB resale prices have moderated significantly since the COVID-19 pandemic, when delays in the construction of Build-to-Order (BTO) flats caused an imbalance in supply and demand.The 15-month wait-out period for private property owners was among a slew of property cooling measures introduced in September 2022.The move was to moderate the demand for Housing and Development Board (HDB) resale flats and help prioritise access to affordable public housing for Singaporeans with more urgent housing need