Yes, you may, provided you have fulfilled the 5-year non-disposal condition.  However, if you are granted approval for the purchase, you will be required to dispose of your existing restricted property as follows:

(i) on or before the date of legal completion of the purchase of the new property; or

(ii) within 3 months from the date of issue of the Temporary Occupation Permit or Certificate of Statutory Completion (whichever is issued earlier) if the property is under construction; or

(iii) within 3 months from the date the seller delivers vacant possession of the new property for which the Temporary Occupation Permit has been issued but separate title has not been issued yet.