Restriction on CPF
For HDB flats/ private properties with leases of less than 30 years old – No CPF can be used.
For HDB flats/ private properties with leases of more than 30 years old but less than 60 years, the following rules apply:
1. A property owner is eligible to use his CPF for the property if his age plus the remaining lease of the property is at least 80 years.
2. The maximum amount of CPF that can be used is capped at a percentage of the lower of the purchase price and the value of the property at the time of purchase. The percentage is computed based on the remaining lease of the property when the youngest eligible member using CPF reaches age 55, as shown below:
Remaining lease when the youngest eligible owner using CPF turns 55
( Remaining lease at the point of purchase /
Lower of purchase price or value of the property) x Lower of purchase price or value of the property