To be accurate, the ability to profit is merely reduced not removed.

Will you look at that. Once you remove the ability to profit from HDBs so easily, suddenly nobody wants to buy.

To be fair, another redditor highlighted the waiting time as another reason.

Can’t help but think that we Singaporeans are damn greedy. Complain not enough HDB and complain that HDB shouldn’t be a profit market. Then when the policy is implemented nobody shows up. Everybody buys AMK instead because can flip.

Don't blame the players, blame the game. If the Govt is handing out free money, obviously people would want to take.

The question is what's the public interest served by incentivising couples to wait for BTO instead of buying resale and settling down earlier.

Oh wait, they can't because that means bringing down resale prices which may cost them votes. They can't even manage the increase.