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Hi,

I refer you to this website link on CPF usage for private properties scheme:

Your SC friend cannot use CPF to fund the 2nd property since its a private property purchase with 2 non related singles, but its likely you can. To confirm its advisable to call up CPF hotline to confirm about private properties scheme on your case. ABSD typically is payable by cash, and based on your limited info shared, it will be 7% (on the higher SC purchaser tax profile). Thanks and hope to assist further.

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

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https://www.cpf.gov.sg/Members/Schemes/schemes/housing/private-properties-scheme Read More

Hi buyer,

Feel free to contact me at your convenience, and we can discuss the issue in greater detail.

nd regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More

Good evening buyer,

Do take note that the ABSD applicable will be 7% (higher of 5% as SPR for first property purchase or 7% as SC for second property purchase).

ABSD can be paid by CPF OA funds but usually for resale transactions, CPF board might not be able to release funds quick enough to pay IRAS thus usually you need to pay in cash first before apply for remission if you have excess OA funds.

Btw bear in mind that if your co- purchaser has an outstanding housing loan, it will affect your loan quantum.

As he has utilised CPF OA funds in this existing property, he wont be able to utilise his CPF OA funds in this purchase as he is a non related person to you.

With so many restrictions applicable in this purchase if you decide to purchase with him, probably you can share with me why didnt you decide to purchase solely by yourself?

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
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