Latest CPF Measure – 10 May 2019

 

The latest slew of measures by CPF are mainly to safeguard the value of aging HDB flats and remind us to exercise prudence when using CPF for residential property purchases, be it private or HDB apartments. There is a handy CPF calculator (see link at the bottom) to determine the amount of CPF you can use based on a few factors.

Summary extracted from CPF website:

“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.

Here is a simple video explanation and examples on how the CPF measure can affect you.

 

CPF Housing Usage Calculator: https://www.cpf.gov.sg/eSvc/Web/Schemes/CpfHousingUsage/Input1

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