No More 15-Month Wait-Out: How Will This Impact the Singapore Property Market? By Dr Wealth • July 30, 2026In September 2022, as the Singapore property market emerged from the pandemic with alarming momentum, the government deployed a highly targeted cooling measure: a 15-month wait-out period for private property owners (PPOs) intending to purchase a non-subsidised HDB resale flat. The goal was to siphon off demand and prevent flush-with-cash private downgraders from aggressively bidding up public housing prices. With HDB resale prices recording two consecutive quarters of decline (falling 0.1% in Q1 and 0.3% in Q2), National Development Minister Chee Hong Tat announced the immediate removal of this 15-month wait-out period. But for investors, developers, and property agents, this policy reversal fundamentally rewrites the supply-demand mechanics of Singapore’s secondary property market.