You can use a pro-rated amount of your CPF savings if the property has a remaining lease of at least 20 years, even if it doesn't cover the youngest buyer until age 95.

 

The pro-rated amount depends on:

 

• The age of the youngest owner
• The remaining lease of the property (at least 20 years)

For instance, if two 25-year-old buyers purchase a flat with 65 years of remaining lease for $550,000, they can use up to $495,000 (90% of the purchase price) of their CPF. This is because the lease will only last until they are 80 years old.

 

To calculate the exact amount of CPF you can use, please refer to the CPF housing usage calculator. This tool factors in:

 

• The owners' ages
• The property's remaining lease

 This policy reflects Singapore's increasing life expectancy and encourages buyers to:

 

• Purchase properties with sufficient lease coverage
• Set aside adequate CPF savings for retirement housing needs (e.g. a replacement property)

Important note: If the youngest co-owner gives up their ownership, the CPF usage limit will be recalculated based on the next youngest co-owner's age.