Did the 15-Month Policy Actually Work? Two Numbers Settle It.
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THE TAKE: The measure achieved its stated goal — the data is unambiguous.
ALT TITLE: The 15-Month Policy Worked. The Proof Is 34% Falling to 12%.
RUNTIME: ~60 seconds

--- TALKING SCRIPT ---

There's a lot of noise about whether the 15-month policy was ever worth it. Let me settle it with one statistic.

Between January and September 2022 — right before the rule — private property owners made up about thirty-four percent of buyers of million-dollar HDB flats. One in three.

By the January to November 2024 window, that was down to about twelve percent.

That's the precise group the measure targeted, doing exactly what it was designed to stop doing. Not opinion. Measured.

The price data agrees. HDB resale grew ten-point-four percent in 2022. By 2025 it was two-point-nine percent. Then two negative quarters.

So it worked. It also had a genuine human cost — eighteen hundred appeals a year, three quarters rejected. And it was always described as temporary.

The lesson isn't whether it was good policy. It's that these measures get switched off once they've done their job.

--- DM MAGNET ---

DM me "15PROOF" and I'll send you the full before-and-after data set so you can read it yourself instead of taking my word.

--- FACTS USED ---

- PPO share of million-dollar HDB buyers: ~34% (Jan-Sep 2022) to ~12% (Jan-Nov 2024)
- HDB resale growth: +10.4% (2022) to +2.9% (2025), then -0.1% and -0.3%

Data as at 31 July 2026. Verify against HDB/MND before posting.

--- DISCLAIMER ---

These figures were compiled from publicly available online sources, news
reports and community discussion. They may be incomplete, out of date, or
simply wrong. Nothing here is financial, legal or property advice.

Verify every number against the primary source (HDB, MND, URA, IRAS)
before you publish it or advise a client. You are responsible for what
you post under your own name.

Source: https://postai.sg/pseo/15-month-policy/did-it-work.html