How long should I wait for the Resale market to die down slightly?

Well, prices are still rising despite sales volume decreasing, so there's really no guaranteeing when it will "die down", as you said. But the good thing is, there's not as many $1M HDB transactions as you think. Like the other said in the comments, it tends to be played up in the media. And it's still not the norm. There are affordable resale HDBs in the market, we know this because even our own teammate has found a home recently. But there's the location you want to think about -- where do you want to live? Which amenities do you want to be close to?

​

If you need help with assessing your eligibility for a housing loan, and which ones to pick, it might be easier to talk over on the phone. Hope you get in touch with us so we can help you! https://ohmyhome.com/en-sg/property-agent-servi...

Never say never.

• Anything can be possible when the seller and buyer is serious abt the transaction. $1m is very few of the many transactions that happened and happened to be highlighted in media (because that's what readers enjoy reading and talking abt this).
• There are also a lot of HDB with no COVs paid/within maybe 20% or less of household income - when ppl benefit from govt policies, they+media usually keep quiet (lower readership coz not as juicy?? - leave you to think abt).
• I think you shld already have assessed how much you can afford and what kind of HDB+where you can buy if you are really serious + have continued viewing houses. There might be buyers who just want to sell at market/below market (maybe rare - but who knows - out of the million circumstances anything can be possible).
• For me, I feel only by being in the market (viewing houses, talking to property agents/owners) you can know when the cooling measures has taken effect... however no one will ever know when it can last/how long to wait/when or if there will be any drops. But honestly, focusing on the limitations/complaining is meaningless.
• Housing loan (refer: https://blog.seedly.sg/hdb-loan-vs-bank-loan/) - depends on eligibility - HDB loan is obviously the better choice now (but may not be forever as bank loan can go up / down). Nobody can give the best advice. 2 years ago in 2020, everyone was laughing and jeering at those who took HDB loan... then now the reverse? I am not sure why the either - because we shld just take up what we are comfortable with/consider the risks/just be responsible/provide for our decision (aka grow up).
• Same for suitability - what is suitable for others may not be for you. For myself is convenience - to frequently travelled places (work, parent's, religious, schools, medical, food).