2 Answers

Ivan Ng
Hi,

HDB Map Services is correct as all HDB properties are 99 year leasehold, not 100. Per your example, its 99 years leasehold from 01 Apr 1978, meaning its into the middle of the 40th year of lease, ie. balance 59 years. May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

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Ling CK
Hi Mr Qiu,

Please be extra cautions over this, especially flats near or under 60 yrs lease. The implications are significant.

Flat lease started on 1978, by now 2017 it is 39 yrs.
Note it started on the month of April, so April 2017 is 60 yrs lease remaining. It is now Oct 2017, therefore it is 59 yrs 6 months to be exact.

Please note that CPF board has a strict policy in using CPF to pay for property with remaining lease less than 60 yrs.

There is a formula to apply available from CPF website.
I can provide an example here:
If you & your spouse is around 35 yrs old, and decided to buy this flat. Your CPF utilization is 66%, that is $330k for a $500k flat. The rest of $170k has to be pay with cash, and the interest that accrued from the loan as well.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
90110636
ling.ck7@gmail.com

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