Dear sir,
The following information has been extracted from CPF website today:
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Q: Can I use my CPF savings to buy more than one property?
A: You can use your CPF savings, up to the Valuation Limit*, for your second or subsequent property with a remaining lease of at least 60 years that is bought on or after 1 July 2006 after meeting certain conditions based on your age.
Q: How much CPF savings can my spouse and I use for the purchase of our second property which is a private property?
A: Assuming you have used your CPF savings for your first property (Housing & Development Board flat) but not your spouse. The amount of CPF savings that you and your spouse can use for your second property (private property) will not be the same.
As this is your second property which you are using your CPF savings, you will have to set aside the Basic Retirement Sum (BRS) before you can use your excess Ordinary Account savings for the purchase.
When the total CPF savings used for the second property reaches the Valuation Limit* you will not be able to use any more CPF savings to pay the housing loan.
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Hope the information above is applicable to what you are looking for.
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