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CPF Rule Change: What's in it for you as a homebuyer?

According to the Ministry of National Development and the Ministry of Manpower, 98 per cent of Housing Board households and 99 per cent of private property households have a home which covers them to 95 years or beyond.
According to the Ministry of National Development and the Ministry of Manpower, 98 per cent of Housing Board households and 99 per cent of private property households have a home which covers them to 95 years or beyond.PHOTO: ST FILE

The much-awaited rule change for the Central Provident Fund (CPF) was announced recently. Home owners would be able to withdraw more from their CPF to buy ageing flats from May 10, provided that the remaining lease can last them until the age of 95.

These changes are not expected to affect most of the CPF transactions today, as 98 per cent of Housing Board (HDB) households and 99 per cent of private property households have a home which covers them to 95 years or beyond, according to the Ministry of National Development and the Ministry of Manpower.

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A version of this article appeared in the print edition of The Sunday Times on May 19, 2019, with the headline 'CPF Rule Change: What's in it for you as a homebuyer?'. Print Edition | Subscribe