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Hi Esther,

There will be a limit to how much the buyer can withdraw from their CPF OA due to the lease balance, however, it will also be subject to the purchaser's age. Various scenarios:

1) You are buying a property with remaining lease that is able to cover the youngest owner using OA savings to at least 95 years old.

2) You are buying a property with remaining lease that is unable to cover the youngest owner using OA savings to at least 95 years old.

You may read up more about the usage at https://www.cpf.gov.sg/service/article/how-much-cpf-savings-can-i-use-for-my-property-purchase.

By the way, if you are interested to find out the indicative valuation of your property, do visit http://bit.ly/UrHomeMatters.

Hope the above helps!

——

I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes the purchase still can draw down his or her CPF OA funds to pay for the flat but it will not be at 100%.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi Esther,

There are restrictions on the amount the buyer can withdraw from their CPF Ordinary Account (OA) due to the balance of the property’s lease. This also depends on the age of the buyer. Here are a couple of scenarios:

1) If the property’s remaining lease can cover the youngest owner using OA funds until they reach at least 95 years old, then withdrawal restrictions are minimized.
2) If the property’s lease cannot cover the youngest owner using OA savings until age 95, there will be more limitations on the amount that can be withdrawn.

If you need assistance with selling, feel free to reach out. I offer personalized services tailored to maximize your property's market potential, including detailed sales reports, comprehensive market analysis, and strategic marketing plans. I’m here to ensure a smooth, successful transaction from start to finish!

D Kumar
 +65 96659926 
ERA Associate Division Director
https://www.findpropertyagent.sg/property-agent/R026193B
ERA Top Achievers 2013-2023
ERA Multi-Million Dollar Club Award
ERA Asia-Pacific Business Conference Elite Award Read More

Hi, this depends on the buyer's age.

Hi, hopefully you managed to get your doubt or query answered. If so, then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me.

https://www.era.com.sg/R064892F

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More

Hi,

Yes it is possible for the buyer to use CPF OA for the purchase, just that if the balance lease of flat does not last him or her until 95 years old, the CPF OA that can be used will be pro-rated as the withdrawal limit will be lower. Not only the CPF available for use will be pro-rated, the max home loan that can be used will also be similarly pro-rated.

This in effect narrows the pool of buyers for your flat, and brings up more hurdles for the potential buyer. A buyer in 42 years old and above may not be so affected since they can still use full CPF OA and loan, but buyers younger than that will need to use more cash for the purchase. This younger demographic group happens to be the category with limited cash and may start to shun older HDB flats due to this reason. Besides that, older flats typically require more maintenance and renovation, and resale value becomes another problems so I foresee a trend of younger demographic buyers avoiding flats that are too old eventually. This is the effect of lease decay that may eventually become more of an issue years down the road.

It might be a good time for you to cash out on the flat given that HDB resale prices are at an all-time high and lease decay is not that magnified as a problem as yet.

I have still managed to get good price outcomes for older flats, and recently selling one 3-room flat that is 50+ years old as well.

-- HDB Toa Payoh 5-RM Sellers of Million-Dollar HDB, Mr. & Mrs Leong

We were fortunate to have met Ivan Ng. He was thorough in going through what the complicated home-selling process required of us and more so in understanding what we would like to achieve from the sale of our unit. His responsiveness and assurance, was a trait that we really appreciate. We managed to secure a sale that exceeded our expectation with Ivan’s advises. The offered price for our unit was a record set for the flats in the neighborhood. This was definitely supported by the fact that Ivan’s listing of our unit was detailed and stood out from other listings. Because of this, we also engaged Ivan's service to help us search and buy our new resale home. After some searches and viewings, we managed to secure one at a reasonable price with his help. With Ivan’s cheery and positive demeanour, selling our unit to procuring a new one, was a smooth journey for us. It was a pleasure to have worked with him.

-- HDB Executive Maisonette Sellers, Mr & Mrs Yeo --

Before contacting Ivan Ng, our Property Realtor, we were quite apprehensive about our Contra-deal ( concurrent resale & purchase of HDB flats) as at that time the outlook of the resale property market was quite sluggish & pessimistic. But surprisingly our property realtor, Ivan , was able to put us at ease with his professional competence, astute work experience & friendly nature . He was able to consummate our contra-deal within one month of our HDB application. Now we are convinced by his promise that (in Ivan's own words) ... "A contra-deal is where the sale & purchase transactions are done concurrently and completed on the same day. This results in a seamless transition of the funds from your sale proceeds and CPF proceeds towards your purchase price." More importantly Ivan has also managed to clinch a good deal for our contra-deal. We'll certainly recommend him to our kins & friends. Thank you very much, Ivan. We are definitely your satisfied customers! Read More

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

Warm Regards,

Ivan Ng Realtor
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Good day to you,

Your concern may be true to a certain extent, but the output depends on the buyer. The lease of your unit expired in 1979, so the youngest buyer needs to be born before 1983 to be eligible to purchase your unit utilizing full CPF OA. They will also be eligible for an HDB loan if they fulfill the HDB requirement.

Do feel free to contact me for detailed discussion.

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Regards
Mike Lim
 96929209 
R026708F
m52i@yahoo.com
ERA Read More

Hi, appreciate your sharing, purchase can use but depend on his or her age
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Hi Esther,

Is it true that older units are harder to sell because of the smaller pool of potential buyers. When the balance lease of the youngest buyer + the age of the balance lease of the flat is less than 95 years old, there will be some restrictions on their CPF usage as well as to their loan.

However it is still possible to get a good price but targeting the older pool of potential buyers. Please contact me so that I can understand your intentions and assist you further!

Regards,
Nick Tan
(M) +65 96 44 48 54
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

SEAA Salespersons Achievement Platinum Award 2020/2022/2023

WhatsApp: https://wa.me/qr/X6VRPGSSIHN5D1

Visit my website to get to know me better:
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Testimonial from my Clients
Nick was introduced to me by a friend who learned that my previous property agent wasn’t meeting my expectations. During our first phone call, Nick quickly grasped my concerns and provided a detailed financial plan the next day. Since switching to Nick, selling my house has been much more relaxed. His virtual tour and informative fact sheet eliminated the need for my family and me to be constantly present for viewings by unsuitable buyers.
Nick was invaluable in purchasing my next property. He sourced units within my budget and analysed price trends of condo projects I was interested in. With Nick’s assistance, the buying process was seamless, and he expertly coordinated the sale of my current unit with the purchase of the next. Kudos to Nick for his outstanding service and advice!
Eileen Chen (Seller) June 2024

During Nick’s presentation to us, he showed confidence and resourcefulness. He showed us his various methods of reaching out to potential buyers instead of just relying on Propertyguru. He also saw the potential of our home to sell at our projected price. Where other agents deem impossible to achieve, he did his analysis and deems it reasonable and achievable. Nick proves trustworthy. From time to time, Nick will update us on the progress and on any viewing. He will filter buyers who could not meet our asking price and provide update and advice on the offers. We are grateful that he helps us to negotiate for a good price for our home. In summary, Nick is dedicated, resourceful, trustworthy and willing to take challenges.
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Selling our house was a pretty stressful ordeal, as we have already committed to buying our new home and hence have a timeline to meet. Losing a substantial deposit and worse still, not getting our dream home caused many sleepless nights as we are nearing our deadline. I am very glad we have decided to switch to Nick and seek his help after the dismal performance of our first agent. Not only is Nick very patient in explaining things to us, time and time again he gives us reassurance to allay our worries. And he walked his talk.
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Thank you very much once again Nick, for this smooth transaction!
Judy Rong (Seller) Dec 2023 Read More

USING CPF for Property Purchase**:
- If the remaining lease on a property can last until the youngest buyer turns 95, they can use their CPF Ordinary Account (OA) funds fully for the purchase.

2. **Limited CPF Usage**:
- If the remaining lease isn't enough to last until the youngest buyer turns 95, they can still use their CPF OA funds, but not the full amount. The exact limit depends on how much of the lease covers their age.

This means that lease length and the buyer’s age affect how much CPF money they can use to buy a property.

WhatsApp me at: ABLE Toh (65) 9856-9255  or through this link.:https://wa.me/6598569255
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Hi,

It is still possible for the purchaser to use their CPF funds to buy your property. However, the property must be able to cover the youngest buyer until the age of 95. In your case, if the buyer is 42 or older, they can maximize their CPF usage and loan amount. If the buyer is younger than 42, the CPF usage and loan amount will be prorated, requiring them to pay more in cash.

I have successfully helped many sellers, particularly those with properties that have a low remaining lease, in securing the right buyers. I would be happy to assist you in selling your property as well. Please find my testimonials below for your consideration.

This platform does not allow me to contact you directly so kindly contact me at https://wa.me/6597261112 I would be glad to assist you further.

Thank you and best regards,

Jenny Tran
Propnex Realty Pte Ltd
(HP) +65 97261112 
(Email) jenny.tran@propnex.com
BSc (Real Estate) (Hons)-NUS

Testimonial from Satisfied Clients
-- My husband and I wish to commend the sincere attitude and good customer service rendered by your staff Jenny, who handled the sale of our 5R HDB flat early this year. We have met several agents but none as genuine as Jenny. Being a seller agent, she took our interest at heart in handling the sale, unlike other agents who are self-interest. Jenny is punctual and prompt in the whole dealings and we were convinced that such an agent is hard for find nowadays. Jenny is a trustworthy, honest, sincere and hardworking agent. We are happy with her service and would gladly recommend her to our friends in future. Jenny is an asset to Propnex and the organisation should value her. Thank you Jenny for her efforts--
Mr and Mrs Soo (HDB seller)

--Jenny is very committed and responsive to her clients and she has spent hours updating them and looking out for great deals and even tailor-made property proposal geared towards their needs. Will certainly refer her to others and will definitely approach her again in her future--
Nick and Kim (New launch buyer)

--Jenny did a great job helping my wife and I sell our unit. She took active steps to walk our neighbourhood to understand what she was marketing. During the marketing period, she managed potential buyers and provided timely updates and recommendations so we could stay on top of the process. Overall, Jenny was professional and helped us to achieve a positive result which we are very thankful for--
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Samantha (Resale condo buyer) Read More