Singapore has scrapped the 15-month wait-out period that previously required individuals selling private homes to wait before purchasing public housing flats.
National Development Minister Chee Hong Tat confirmed the change on Tuesday, stating the policy adjustment takes effect immediately.
The move eliminates a key barrier for private-property owners looking to downsize into the public housing sector, potentially increasing demand for Housing Development Board (HDB) units.
The removal of the cooling measure signals a shift in Singapore's housing policy, aiming to provide greater flexibility for homeowners.
By allowing private sellers to buy HDB flats without delay, the government is likely to see an influx of buyers from the private market, which could support prices and transaction volumes in the public housing segment.
This development comes as the government continues to fine-tune measures to balance housing affordability with market stability.