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Singapore signals housing market stability by scrapping 15-month HDB wait
['Jean Iau']
News - South China Morning Post
Singapore has signalled stability in the public housing market by scrapping a 15-month waiting period that barred private property owners from buying resale HDB flats – even as other curbs remain in place.
National Development Minister Chee Hong Tat announced the change on Tuesday, saying the government recognised that the rule had caused inconvenience and disrupted the plans of those with genuine housing need who wanted to move from a private property into a Housing Development Board (HDB) flat.
Roughly four-fifths of Singapore’s resident population live in public housing.
HDB resale flats are units sold on the open market by homeowners, rather than allocated directly from the government.
HDB public housing blocks (left) and private residential buildings seen side by side in Singapore.