Can use CPF to fund for second property?

[plastic]

Can use CPF to fund for second property? Is there any condition for this?

[azeoprop]

From CPF website:

Yes. However, the restrictions on the use of CPF for multiple properties will apply if you buy a second property with your CPF savings after 1 July 2006. This means that you have to first set aside half of the prevailing Minimum Sum in your Ordinary and Special Accounts (including savings invested under CPF Investment Scheme for Special Account) if you are below 55 years or your Minimum Sum cash component shortfall if you are aged 55 and above. Only excess savings in your Ordinary Account may be used to finance the purchase of the new property. Withdrawals for the new private property will be subject to a Withdrawal Limit of 100% Valuation Limit for properties with at least 60 years of lease, and the applicable Withdrawal Limit for properties with remaining lease of less than 60 years but at least 30 years.

[Arcachon]

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1223439/1/.html

http://mycpf.cpf.gov.sg/Members/Gen-Info/Int-Rates/Int-Rates.htm

[Arcachon]

In June 2006, 2 Bedroom @ Southbank cost SGD 535,000.

Now it cost SGD 1,500,000 after QE1, QE2, operation twist.

Do you think it can go up to SGD 3,000,000 after QE3 ??????

[Komo]

In June 2006, 2 Bedroom @ Southbank cost SGD 535,000.

Now it cost SGD 1,500,000 after QE1, QE2, operation twist.

Do you think it can go up to SGD 3,000,000 after QE3 ??????
for freehold $1.5m is ok:D

[ysyap]

for freehold $1.5m is ok:DIn 2006, $500k was ok!!! Now $1.5mil is ok. In the near future, $??? is also ok!!! :)

[phantom_opera]

In June 2006, 2 Bedroom @ Southbank cost SGD 535,000.

Now it cost SGD 1,500,000 after QE1, QE2, operation twist.

Do you think it can go up to SGD 3,000,000 after QE3 ??????

In your dream because that means HDB prices will almost double from this level, PAP will not allow it :scared-1:

It is time to sell and realize the almost 3x capital gain .. just my opinion

[Pikachu1245]

In your dream because that means HDB prices will almost double from this level, PAP will not allow it :scared-1:

It is time to sell and realize the almost 3x capital gain .. just my opinion

Just wondering. If owner sell, won't it be beneficial only if they are willing to downground or move to smaller / cheaper area? e.g. CCR to RCR / OCR. or 3 room to 2 or 1 bedroom?

This I reckon is because it is be more costly to buy into same size/same area in future due to lo interst rate and inflation.:rolleyes:

[Arcachon]

[quote=This I reckon is because it is be more costly to buy into same size/same area in future due to lo interst rate and inflation.:rolleyes:[/quote]

This is true when there is investment on the infrastructure and there is an increase in the population.

If you live on an island without investment on the infrastructure and the population increase, do you think it will cost more or less in future.

[radha08]

In June 2006, 2 Bedroom @ Southbank cost SGD 535,000.

Now it cost SGD 1,500,000 after QE1, QE2, operation twist.

Do you think it can go up to SGD 3,000,000 after QE3 ??????

wow 535k..price of 5rm resale HDB today:doh:

[lajia]

In your dream because that means HDB prices will almost double from this level, PAP will not allow it :scared-1:

It is time to sell and realize the almost 3x capital gain .. just my opinion

can they stop it?? if they can, they should have stop a bowl of noodle from $0.80 to current selling S$5 in some hawker centre! some of you might be able to remember a bowl of dry noodle selling $0.8 and noodle soup at $0.6? Can they stop your parents from selling their HDB for less than 50K when they first bought it which they can currently sell for 500K? Even if they can, should they? There is a lot of implications....:2cents:

[radha08]

Buy buy buy got money just buy....property..

[Arcachon]

wow 535k..price of 5rm resale HDB today:doh:

Brought my 5 room HDB for SGD 225,600+22,560(premium) = SGD 248,160 in 1994 in a mature estate. Move in 1996, 99 lease start in 1997.

[Komo]

In 2006, $500k was ok!!! Now $1.5mil is ok. In the near future, $??? is also ok!!! :)
unfortunately southbank is leasehold....can command $5k rental? else not worth the price tag at all:D

[DC33_2008]

It is not about LH or FH. Location and view. It has already achieved that. Recent caveat lodged for a 614sq ft unit achieving $19xx psf.
unfortunately southbank is leasehold....can command $5k rental? else not worth the price tag at all:D

[Geylang OKT]

Everything moves in cycles. And I mean everything! :D

[Komo]

Everything moves in cycles. And I mean everything! :D
fully agreed...me holding back my cpf reserve ammunition:D :p

[lajia]

fully agreed...me holding back my cpf reserve ammunition:D :p
Ya, wait for ah B to give u the cue......:D

[radha08]

Ya, wait for ah B to give u the cue......:D

2015....:cool: