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Hi, we know that when we use our CPF to buy house, there will be interest accrued and we need to pay back.
If my HDB 99 lease is up, the HDB has become worthless and does it mean I still have to pay back the interest accrued from the day I used my CPF for purchase?

Am I also right to say that if I purchase a $600k HDB with lease remaining of 60 year, my house depreciate 10k per year? And I still need to pay back the interest accrued from my CPF?
Please enlighten me!
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1 Answer

Desmond Ang
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Hi Wee Chen,

You will only need to pay back your CPF with accured interest provided your sell your HDB flat. If your HDB lease become zero, it is unlikely you need to pay back your CPF as there are no sale involved. No HDB flats in Singapore have ever reached the end of its 99 years leasehold and we have no ideas what will HDB do to these flats. In a negative property sale situation, all your sales proceed will be returned to your CPF. If the amount is not enough to cover the CPF utilise with interest, the maximum amount returnable will only be cap to your sales proceed.

Thanks

Desmond Ang
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