Can use CPF to fund for second property? Is there any condition for this?
Can use CPF to fund for second property? Is there any condition for this?
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.
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 okOriginally Posted by Arcachon
In 2006, $500k was ok!!! Now $1.5mil is ok. In the near future, $??? is also ok!!!Originally Posted by Komo
In your dream because that means HDB prices will almost double from this level, PAP will not allow itOriginally Posted by Arcachon
It is time to sell and realize the almost 3x capital gain .. just my opinion
Ride at your own risk !!!
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?Originally Posted by phantom_opera
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.
[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.[/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.
wow 535k..price of 5rm resale HDB todayOriginally Posted by Arcachon
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....Originally Posted by phantom_opera
Buy buy buy got money just buy....property..
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.Originally Posted by radha08
unfortunately southbank is leasehold....can command $5k rental? else not worth the price tag at allOriginally Posted by ysyap
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.Originally Posted by Komo
Everything moves in cycles. And I mean everything!
fully agreed...me holding back my cpf reserve ammunitionOriginally Posted by Geylang OKT
Ya, wait for ah B to give u the cue......Originally Posted by Komo
2015....Originally Posted by lajia