Vincent Ong 6598531741

New CPF rules for purchase of older flats to kick in by May

Homebuyers looking to purchase older flats from May onwards will be able to benefit from new Central Provident Fund (CPF) rules and will announce details of changes to CPF rules soon.

“Actually the focus should not be on the remaining lease of the flat. What we want to ensure is that buyers purchase flats with leases that are long enough to last them for life,” he said.

“If that is done, then we can relax CPF usage rules, even if the remaining lease is less than 60 years.”

– 07 March, 2019

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