For private residential property owners considering whether to sell a condo to buy an HDB, the process changed significantly on 28 July 2026. National Development Minister Chee Hong Tat announced that private property owners and former private property owners who buy a non-subsidised HDB resale flat without an HDB housing loan are no longer subject to the 15-month wait-out period.
Selling a condo to buy an HDB resale flat is often a right-sizing decision. While the removal of the wait-out period makes the move easier, it does not automatically make it the right financial or lifestyle choice.
Before deciding to downgrade from condo to HDB, consider whether the move suits your housing needs, finances and lifestyle, as well as what you intend to do with the proceeds from your condo sale.
Key takeaways
- From 28 July 2026, private property owners no longer need to wait 15 months before buying a non-subsidised HDB resale flat without an HDB housing loan.
- The removal of the wait-out period makes a condo-to-HDB move easier, but owners should still assess whether right-sizing suits their long-term needs.
- Moving from a condo to an HDB flat can mean giving up gated facilities such as gyms and swimming pools in exchange for lower maintenance costs and closer access to heartland amenities.
- Your actual condo sale proceeds depend on the outstanding mortgage, transaction costs, CPF refunds and other expenses.
- Having a clear plan for any cash released from the move can help you avoid making financial decisions based only on the immediate increase in liquidity.
What changed for private property owners buying HDB resale flats
The policy change makes it easier for eligible private property owners to move into the HDB resale market. It removes the previous 15-month waiting period for certain resale purchases while leaving other HDB eligibility rules in place.
What was the 15-month wait-out period
The Singapore government introduced the 15-month wait-out period on 30 September 2022 as part of a series of property cooling measures. It aimed to moderate demand in the HDB resale market and prioritise public housing access for buyers with greater housing needs.
The policy was introduced for several related reasons:
- The number of private property owners buying HDB resale flats had doubled in 2021 and the first three quarters of 2022.
- Former private property owners were more likely to pay Cash-Over-Valuation and incurred higher Cash-Over-Valuation amounts.
- Restricting immediate demand from this group was intended to support the affordability of HDB resale flats for other home buyers.
Private property owners had to wait 15 months after disposing of their private residential property before they could purchase a non-subsidised HDB resale flat.
Singapore citizens aged 55 and above were exempt from the 15-month wait if they moved from private property to a 4-room or smaller non-subsidised HDB resale flat.
Why the 15-month wait-out period was removed
The wait-out period was removed after signs of moderation in the HDB resale market. Based on the HDB Resale Price Index, resale prices declined by 0.1% in the first quarter of 2026 and 0.3% in the second quarter of 2026.
These two consecutive quarterly declines followed five quarters of slower or flat growth from the fourth quarter of 2024 to the fourth quarter of 2025. This indicated that the resale market was stabilising after the period of stronger demand that prompted the cooling measure.
MND also pointed to a growing number of flats expected to complete their Minimum Occupation Period over the next few years. Once eligible for resale, these flats will add to supply as demand moderates.
The easing resale price trend and expected increase in supply supported the decision to remove the 15-month wait-out period.
Read more: Guide to Selling a Condo and Buying an HDB Flat in Singapore
Before you sell a condo to buy an HDB, ask these five questions
The removal of the wait-out period addresses one obstacle to moving from private property to an HDB resale flat. The financial, eligibility and lifestyle considerations still remain.
1. Why am I moving
Your reason for moving should guide whether giving up your private property makes sense. A policy change on its own is not a strong reason to right-size.
If you find an HDB resale flat within your budget that offers enough space, a suitable location and convenient access to work or family, selling your condo may fit your longer-term housing needs.
The move may make less sense if the flat is in an inconvenient location, does not provide enough space or requires you to give up condo facilities that matter to your lifestyle.
2. How would my lifestyle change
Moving from a condominium to an HDB flat can change your monthly expenses, access to facilities, living environment and location. These differences are part of the decision, not separate from it.
Condo residents may be used to facilities such as gyms, swimming pools, function rooms and gated surroundings. After moving, you may need to pay separately for some of these facilities or travel farther to use them.
Families with children or those planning to have children should also consider location carefully. Moving away from a condominium could place the household outside the 1km radius of a preferred primary school.
An HDB flat can offer other advantages. Buyers may get more usable floor space for the price, lower conservancy charges and property taxes, and easier access to heartland community amenities.
Read more: How To Choose the Perfect HDB Resale Flat in Singapore
3. Do I understand the private property to HDB downgrade rules
The removal of the 15-month wait-out period does not apply to every HDB purchase. It applies when a private property owner buys a non-subsidised HDB resale flat without an HDB housing loan.
For anyone asking can a private property owner buy HDB resale flat, the answer depends on the type of flat, how the purchase is financed and whether the buyer meets the relevant eligibility requirements.
The 30-month wait-out period continues to apply if you intend to buy:
- A resale flat with an HDB housing loan
- A resale flat with CPF housing grants
- A new BTO flat with or without housing grants
- A new executive condominium directly from a developer
Other HDB requirements also remain relevant:
- Buyers must obtain a valid HDB Flat Eligibility letter before obtaining an Option to Purchase.
- All private residential properties in Singapore and overseas must be disposed of within six months of completing the HDB purchase.
- A five-year Minimum Occupation Period continues to apply.
Read more: HDB Resale Payment Timeline When Selling or Buying HDB
4. How much money would I walk away with
The difference between your condo’s selling price and the price of an HDB resale flat is not necessarily the amount you will receive in cash. Your actual proceeds depend on the liabilities, transaction costs and CPF amounts that must be settled first.
Costs that can reduce your condo sale proceeds include:
- Seller’s Stamp Duty
- Outstanding mortgage loan
- Conveyancing fees
- Property agent fees
- Property tax
- CPF principal and accrued interest that must be refunded
- Other administrative fees
Seller’s Stamp Duty can have a particularly significant effect if the condo is sold soon after purchase. For properties bought from 4 July 2025, the Seller’s Stamp Duty rates are:
- 16% if the property is sold within the first year
- 12% if it is sold within the second year
- 8% if it is sold within the third year
- 4% if it is sold within the fourth year
- 0% thereafter
Selling within the four-year Seller’s Stamp Duty period can substantially reduce the financial benefit of moving to a lower-priced home.
Condos bought before 4 July 2025 follow the earlier three-year Seller’s Stamp Duty window, with rates of 12%, 8% and 4% over the three years.
If CPF savings were used to purchase the condo, the CPF principal withdrawn and accrued interest must be refunded to your Ordinary Account from the sale proceeds. The accrued interest is calculated using CPF’s prevailing Ordinary Account interest rate, currently 2.5% per annum compounded annually. Any remaining proceeds belong to you in cash.
Read more: The Hidden Costs of Owning a Home in Singapore
5. What will I do with the extra cash
For some owners, selling a condo and buying a lower-priced HDB resale flat can unlock a substantial amount of cash.
Deciding how you intend to use the proceeds before completing the sale can reduce the risk of making emotional financial decisions once the money becomes available.
Potential uses for the money may include investment options such as:
- Exchange-Traded Funds
- Singapore Depository Receipts
- Real Estate Investment Trusts
It is also a good time to review whether your insurance remains appropriate for you and your spouse. Families with children should consider their children’s coverage as part of the same review.
What the change could mean for the market
Removing the 15-month waiting period may affect both the HDB resale and rental markets, because private property owners looking to sell a condo to buy an HDB can now move between housing types more directly. Condo owners who previously needed temporary accommodation during the wait may no longer need to rent, which could reduce rental demand and contribute to softer rental prices if demand falls.
More private property owners may therefore consider whether to downgrade from condo to HDB as a right-sizing move. Demand could spread across more flat types, including larger resale flats, because owners are no longer limited by the earlier exemption criteria.
Frequently asked questions
Can a private property owner buy an HDB resale flat immediately?
From 28 July 2026, eligible private property owners can buy a non-subsidised HDB resale flat without the previous 15-month wait if they are not taking an HDB housing loan. Other HDB eligibility and property disposal requirements still apply.
Does the 30-month wait-out period still apply after selling a condo?
Yes, the 30-month wait-out period still applies in situations such as buying a resale flat with an HDB housing loan or CPF housing grants, a new BTO flat, or a new executive condominium directly from a developer. The removal of the 15-month wait-out period does not change these requirements.
Do I need to sell my condo before buying an HDB resale flat?
Eligible buyers can purchase the HDB resale flat first and dispose of their private residential property within six months of completing the HDB purchase. This gives owners more flexibility when coordinating the sale and purchase.
How much cash will I get when I sell my condo and buy an HDB flat?
Your cash proceeds depend on your condo’s selling price after deducting costs such as the outstanding mortgage, Seller’s Stamp Duty where applicable, fees and CPF refunds. Calculating these amounts before buying an HDB flat gives you a clearer idea of how much cash the move will actually free up.
Is it worth it to downgrade from condo to HDB?
A downgrade from condo to HDB decision can make sense if the HDB flat suits your housing needs and the move lowers your ongoing costs or releases useful capital. You should also consider the location, space, facilities and how you plan to use any proceeds from the condo sale.
