Your search results

The 15-Month Wait-Out Period: An Unnecessary Burden in a Challenging Economy

Posted by Jayson Ang on February 6, 2026

| All, Buying Tips, Opinion, Selling Tips

| 0

TLDR

The 15-month wait-out period introduced in September 2022 requires private property owners to wait before buying a resale or BTO HDB flat, aiming to curb million-dollar HDB transactions by limiting demand from private owners. However, despite reducing private owner purchases of million-dollar flats from 34% to 12%, the total number of such transactions rose significantly from 370 in 2022 to over 1,000 in 2024. The policy has limited impact on overall price growth and poses financial strain during economic downturns, especially for those facing job insecurity. It forces sellers into costly rental periods during the wait, worsening their situation. Given its limited success and unintended burdens, the policy needs urgent review or removal to offer flexibility and support to homeowners amid economic uncertainty.

The 15-month wait-out period, introduced in September 2022, requires private property owners (unless aged 55 or older and rightsizing to a 4-room or smaller flat) to wait 15 months after selling their private property before purchasing a resale HDB flat. For those aiming for a BTO flat, the wait extends to 30 months. This policy was ostensibly designed to moderate the number of million-dollar HDB flat transactions by curbing demand from private property owners benefiting from significant gains. However, its effectiveness and continued relevance in the current economic climate are increasingly being questioned.

Limited Impact on Million-Dollar Flats:

While the policy has reportedly reduced the proportion of private property owners among million-dollar HDB flat buyers (from 34% in Jan-Sept 2022 to 12% in Jan-Nov 2024), it hasn’t significantly stemmed the overall rise in million-dollar flat transactions. In 2022, 370 HDB flats sold for $1 million or more. This number increased to 470 in 2023 and further escalated to 1,035 by 2024. This suggests that the wait-out period has had a limited impact on the broader trend of rising HDB prices, particularly at the top end of the market. If the policy isn’t achieving its primary objective, its continued imposition warrants scrutiny.

Economic Headwinds and Undue Burden:

The current economic climate further underscores the need to re-evaluate this policy. Singapore’s growth outlook is cautious, with challenges in manufacturing and financial services. Reports of layoffs in the tech sector and difficulties in securing new employment paint a concerning picture for many individuals.

In such an environment, the 15-month wait-out period can impose an undue burden on homeowners. Many who upgraded to private condos after the pandemic, leveraging property gains, may now find themselves financially squeezed by mortgage payments amidst job insecurity or reduced income. While measures like the Total Debt Servicing Ratio (TDSR) aim to prevent over-leveraging, these safeguards offer little comfort when facing unemployment.

For those in distress, selling their private property and transitioning to a more affordable HDB flat becomes a critical step. However, the 15-month waiting period forces them into a prolonged period of uncertainty and potentially expensive rental accommodation. This additional hurdle can exacerbate financial strain during an already challenging time.

Conclusion:

The 15-month wait-out period appears to be a policy with limited effectiveness in achieving its stated goal of curbing million-dollar HDB flat transactions. More importantly, in a weakening economy, it creates an unnecessary and potentially cruel burden on homeowners facing financial difficulties. The policy’s continued existence warrants immediate review and consideration for removal to provide much-needed flexibility and support to Singaporean homeowners navigating uncertain economic times.

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …

All Buying Tips Opinion

2024 Will Be A Buyers Market

Jayson Ang – January 23, 2024 –

TLDR 2023 saw a roller-coaster ride in the real estate market, with various challenges like high interest rates and geopolitical...

Mandarin Top 5

Top 5 Factors : What Is Considered “Luxury” In The Singapore Property Market?

Jayson Ang – December 3, 2024 –

The Singapore property market is known for its high-quality residential properties, attracting both local and international buyers. Luxury real estate...

Mandarin Top 5

5 Impacts Of The Singapore Government’s Cooling Measures On Property Investing

Jayson Ang – May 30, 2024 –

The Singapore government has implemented several cooling measures over the years to regulate the property market and prevent it from...

Mandarin Top 5

The Secret Strategies of Singapore’s Property Tycoons: Lessons You Can Learn

Jayson Ang – April 26, 2024 –

The Singapore property market has always been a hot topic for both locals and foreign investors. With its stable economy,...

All Buying Tips Top List

Finding the Perfect Match: Top 20 : A Guide to Choosing the Best Property Agent in Singapore

Jayson Ang – December 17, 2022 –

TLDR When it comes to buying or selling real estate in Singapore, having a professional and knowledgeable property agent is...

All Buying Tips Opinion

The Dilemma of Retaining Your HDB Flat While Owning a Condo in Singapore (2025)

Jayson Ang – June 23, 2026 –

TLDR Singaporean citizens can own both an HDB flat and a condominium if the HDB was purchased first and after...

All Buying Tips Opinion

Challenging the Myth of Lease Decay: Older Leasehold Condos Outperforming Newer Ones

Jayson Ang – February 10, 2026 –

TLDR Older leasehold condos in Singapore, particularly those built in the 1980s and 1990s, have shown annualised price growth exceeding...

Mandarin Top 5

5 Tips To Spot Winning Investment Properties In Singapore

Jayson Ang – September 6, 2024 –

Investing in real estate is an exciting and potentially lucrative venture. In Singapore, a thriving property market attracts both local...

Mandarin Top 5

Top 5 : Places to Learn About Singapore’s History

Jayson Ang – February 13, 2025 –

Singapore, a bustling metropolis known for its modernity and multiculturalism, is also a treasure trove of rich history and heritage....

All Buying Tips Reports Selling Tips

Exploring the Allure of Freehold Titles Among Singaporeans

Jayson Ang – October 16, 2025 –

TLDR Freehold properties remain highly attractive in Singapore due to their scarcity, lasting value, and legacy potential. Buyers are drawn...

Mandarin Top 5

5 Points : Singapore’s Property Market vs. Stock Market: Which is the Better Investment Option?

Jayson Ang – April 2, 2024 –

Investing is an important aspect of personal finance and can be a valuable way to grow wealth over time. However,...

All Buying Tips Opinion

3 Things You Need to Know if You Are Buying a Second Property

Jayson Ang – August 21, 2023 –

TLDR When considering buying a second property in Singapore, ensure eligibility by meeting the Minimum Occupancy Period (MOP) and understanding...

Mandarin Top 5

Singapore’s Best Kept Real Estate Secrets: 5 Insider Tips for Savvy Investors

Jayson Ang – May 29, 2023 –

Singapore's Best Kept Real Estate Secrets: 5 Insider Tips for Savvy Investors Here are 5 insider tips for those looking...

All Blog Posts Buying Tips Opinion

Freehold Properties vs Leasehold Properties: Which is Better?

Jayson Ang – June 26, 2023 –

TLDR When it comes to property investments in Singapore, understanding the differences between leasehold and freehold properties is crucial. This...

All Blog Posts Buying Tips

Should I Buy In A Newly MOP HDB Or An Older Resale HDB?

Jayson Ang – March 18, 2023 –

TLDR When deciding between a recently MOP-ed HDB property and an older resale HDB property in Singapore, various factors come...

All Buying Tips

Understanding Property Investment in Singapore: Residential vs. Commercial Properties

Jayson Ang – March 26, 2026 –

TLDR Singapore’s real estate market offers distinct differences between residential and commercial properties. Residential properties typically have longer leases (up...