CPF OA can use to purchase residential properties, such as HDBs, condominiums, or landed properties.

You cannot use CPF OA to purchase a non-residential property in Singapore, such as a commercial or industrial property. You must pay the downpayment for these properties in cash.

Use of CPF for HDB & Privates

1. Under this rule, no CPF can be used if the remaining lease of a residential property is less than 20 years.
2. CPF withdrawal rules for individuals above 55 years old have also been updated. With effect from 10 May 2019, CPF members above the age of 55 will need to have a property with sufficient remaining lease to cover them until at least the age of 95, before they can withdraw their CPF savings above the Basic Retirement Sum (BRS).
3. There are two kinds of limit that can affect your CPF usage towards property purchases

• Valuation Limit (VL) is either the purchase price or valuation of the property at the time of purchase, whichever is lower.
• Withdrawal Limit (WL) is the maximum CPF you can use to buy a home. It is capped at 120% of the Valuation Limit.

Contribution Rates

Seller at age 55 & above years old

For seller who sold a property at age 55 & above, you will receive 2 types of payments:

I. Cash Proceed from Sale of Property (if any)

II. Refund Cash from CPF (if any)

Use of CPF for 2^nd & subsequent properties

There are 2 important considerations when buying your second property

1. LOAN: Your total monthly repayment instalments should not exceed the Total Debt Servicing Ratio (TDSR).

2. CPF: You will need to meet certain conditions based on your age before you can use your CPF OA for your second property, up to Valuation Limit (VL).

Before 55 years old

To set aside the current Basic Retirement Sum (BRS) in your Special Account (SA)* and Ordinary Account (OA).

55 years old and above

To set aside your Basic Retirement Sum (BRS) in your Retirement Account (RA), Special Account (SA)* and Ordinary Account (OA).

Note: * Including the amount withdrawn for investment