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Good News for HBD Owners

-Singapore Govt ready to Relax CPF rules by May

Good News for HBD Owners
Source:Shutterstock

The National Development Minister Lawrence Wong on Thursday, March 7, 2019, stated that they would announce changes in the Central Provident Fund (CPF) loan rules on buying of older housing resale flats for implementation come this May. The minister referred to the restriction in CPF usage particularly for flats with less than 60 years of lease remaining. This is because 90,000 of stock worth one million is about 40 years old.