The measure was implemented last year in response to soaring demand for HDB. SingaporeBusinessReview
wait-out period of 15 months for former and current private property owners wanting to downgrade to HDB flats
In an interview with Singapore Business Review, Savills Singapore’s Executive Director of Research & Consultancy, Alan Cheong, said there is no longer a need for the wait-out period since the market is already “starting to clear.” “In current circumstances, I think that is going to be a pretty hefty upfront payment, given the fact that if you buy a $2m private apartment property, you need to pay 17% cash first. Although you will be reimbursed or rebated back that 17% six months later if you show proof your show sold the first property, that's still a lot of money,” Cheong said.
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