Dafansu Turbocharged May 10, 2019 Share May 10, 2019 Can, but unlike the past, you cannot use 100% cpf since the age + lease left is not equal to 95. Basically, with this new ruling, they encourage young buyers to buy newer flats and old people to buy old flats. Which means the old flats will lose some demand from younger crowd. The past also cannot use fully, for those remaining lease 59 years and below. Now this has been simplified to allow buyers of older homes to use more CPF, so long as the lease can cover the home-owners until they are at least 95 years old. This will provide more flexibility to buy a home. ↡ Advertisement Link to post Share on other sites More sharing options...
Enye Hypersonic May 10, 2019 Share May 10, 2019 (edited) be like me peasant storeman....buy 1 hdb from ah gong direct and stay for life no headaches, no complications simple minded....though some would say sampart gong kia Edited May 10, 2019 by Enye 3 Link to post Share on other sites More sharing options...
Jman888 Moderator May 10, 2019 Share May 10, 2019 be like me peasant storeman....buy 1 hdb from ah gong direct and stay for life no headaches, no complications simple minded....though some would say sampart gong kia wah $150K hdb stay for life, no wonder cpf got million by now ($700K was 4 years ago) 2 Link to post Share on other sites More sharing options...
RH1667 Hypersonic May 10, 2019 Share May 10, 2019 wah $150K hdb stay for life, no wonder cpf got million by now ($700K was 4 years ago) if i did not remember wrongly, it was cash under pillow, not CPF 2 Link to post Share on other sites More sharing options...
Icedbs Turbocharged May 10, 2019 Share May 10, 2019 (edited) The past also cannot use fully, for those remaining lease 59 years and below. Now this has been simplified to allow buyers of older homes to use more CPF, so long as the lease can cover the home-owners until they are at least 95 years old. This will provide more flexibility to buy a home. It is a double edge sword. Older buyers can now use more of their cpf to buy older homes because it will surely cover them until 95. But for younger buyers, they can't use 100% cpf for older homes now. For example, say a unit age 35 years old (64 years lease left). In the past, for this unit, anyone can use 100% of cpf to buy. Now, if a buyer age is 30 or younger, he cannot utilize 100% cpf to buy this home since it will not cover him till 95. The news on TV keep harping on older buyers can use more cpf now to buy older homes ( especially if less than 60 years lease) but they never say much on the younger buyers. Edited May 10, 2019 by Icedbs 1 Link to post Share on other sites More sharing options...
Evillusion Supersonic May 10, 2019 Share May 10, 2019 It is a double edge sword. Older buyers can now use more of their cpf to buy older homes because it will surely cover them until 95. But for younger buyers, they can't use 100% cpf for older homes now. For example, say a unit age 35 years old (64 years lease left). In the past, for this unit, anyone can use 100% of cpf to buy. Now, if a buyer age is 30 or younger, he cannot utilize 100% cpf to buy this home since it will not cover him till 95. The news on TV keep harping on older buyers can use more cpf now to buy older homes ( especially if less than 60 years lease) but they never say much on the younger buyers. $50k for 3 room with 30 yrs lease i take..... Link to post Share on other sites More sharing options...
Icedbs Turbocharged May 10, 2019 Share May 10, 2019 (edited) https://www.todayonline.com/singapore/new-cpf-hdb-rules-may-help-slow-depreciation-ageing-flats-analysts Yeah, we all know that the older flats now can be purchase by older people using more cpf than in the past. But the limit on the younger buyers are mostly not highlighted. And quote like the below while correct is quite meaningless: "Mr Nicholas Mak, executive director of real estate investment firm ZACD Group, said that before the changes, buyers had to use cash if they wanted to buy property with 30 years of lease left. This resulted in property owners lowering the value of their property to incentivise buyers." First of all, the oldest HDBs are 52 years old or 47 years lease left. Which are the ones that are left with 30 years lease that could benefit from this new rule? Moving the no cpf use from 30 lease left to 20 years lease left sounded good, but I don't think there are many 30 years lease left properties around. Edited May 10, 2019 by Icedbs Link to post Share on other sites More sharing options...
Icedbs Turbocharged May 10, 2019 Share May 10, 2019 $50k for 3 room with 30 yrs lease i take..... Link to post Share on other sites More sharing options...
Showster Twincharged May 10, 2019 Share May 10, 2019 老天爱笨小孩。 be like me peasant storeman....buy 1 hdb from ah gong direct and stay for life no headaches, no complications simple minded....though some would say sampart gong kia 1 Link to post Share on other sites More sharing options...
Evillusion Supersonic May 10, 2019 Share May 10, 2019 Bro..where to find 3rm with 30 years lease left? Meaning the flat is 69 years old. Singapore is only 54 years old leh.hahaha......in the future lor...... Link to post Share on other sites More sharing options...
Icedbs Turbocharged May 10, 2019 Share May 10, 2019 Still got SIT flats, private leasehold. https://www.straitstimes.com/singapore/housing/geylang-private-homes-to-be-returned-to-the-state-when-leases-expire-in-2020-no Yes, I know, but too few of them to impact the market. Link to post Share on other sites More sharing options...
Icedbs Turbocharged May 10, 2019 Share May 10, 2019 (edited) hahaha......in the future lor...... Edited May 10, 2019 by Icedbs 1 Link to post Share on other sites More sharing options...
Evillusion Supersonic May 10, 2019 Share May 10, 2019 Still got SIT flats, private leasehold. https://www.straitstimes.com/singapore/housing/geylang-private-homes-to-be-returned-to-the-state-when-leases-expire-in-2020-no my fil lives at the point block off Boon Keng......most of the terrace house are being rented out to foreign workers.......if walk across the area i dont really feel safe especially at night. Don't count the future. They can snap some infinity stones and things will get dusted or change again. Question is, when the time comes, who can tell if the rule still remains? hahaha.......I AM .....IRON MAN! Link to post Share on other sites More sharing options...
Angcheek Hypersonic May 10, 2019 Share May 10, 2019 Yup....from how they are rolling this dish i am afraid they will just do that. Now i regret not selling my unit and cashing out at the earliest instance.....i am the original lesse and my flat is 23 years old.......but worse come to worse i will just rent out the unit when i am older..... by the way its is maissonette.....ððð Only 23 yrs ? That is still young fleet. Anything w 70 lease will still be in good position. 2 Link to post Share on other sites More sharing options...
Mockngbrd Supersonic May 10, 2019 Share May 10, 2019 I don't understand the new rule. very confusing. Means i will huat or not huat? 1 Link to post Share on other sites More sharing options...
Showster Twincharged May 10, 2019 Share May 10, 2019 I don't understand the new rule. very confusing. Means i will huat or not huat?Everybody Huat! 1 Link to post Share on other sites More sharing options...
Kopites Supersonic May 10, 2019 Share May 10, 2019 I don't understand the new rule. very confusing. Means i will huat or not huat?you will huat. go buy 4d..9595. sure open Link to post Share on other sites More sharing options...
Mockngbrd Supersonic May 10, 2019 Share May 10, 2019 (edited) Huat ah? OkPAP WAN SUI WAN SUI WAN WAN SUI!!!#fakenews Edited May 10, 2019 by Mockngbrd ↡ Advertisement Link to post Share on other sites More sharing options...
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