More Flexibility to Buy a Home for Life While Safeguarding Retirement Adequacy

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9 May 2019

 

Rules on the use of CPF and HDB loans to purchase HDB flats and private properties will be updated from 10 May 2019 to enable Singaporeans to have more flexibility in purchasing a home, while safeguarding their housing needs in their retirement. Restrictions on the use of CPF will be imposed if the remaining lease of the property cannot cover the youngest buyer until at least the age of 95.

 

The changes made will affect the total amount of CPF that can be used for properties. The total amount of CPF that can be used will depend on how close to age 95 the remaining lease of the property can cover the youngest buyer.

 

Remaining lease of property is more than 20 years and can cover youngest buyer until at least the age of 95 New rules on total use of CPF (with effect from 10 May 2019)
Yes​ Buyer can use CPF to pay for the property up to the VL​
​No Use of CPF will be pro-rated based on the extent the remaining lease of the property can cover the youngest buyer to the age of 95. This will help buyers set aside CPF savings for their housing needs during retirement (e.g. a replacement property).​


For more details, please see the MND-MOM press release and housing information at our CPF website.