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Old 07-10-2009, 04:29 PM
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Quote:
Originally Posted by springsummer View Post
Pls take note though...
to buy the 2nd property, you will have to fulfill CPF Multiple Property Rules .
It basically states:
- if you're below 55yo, you'll have to put half of Min Sum (around S$55k currently) in your CPF (combined OA & SA) before you can purchase the 2nd property. Note: Each husband & wife must put half of Min Sum (husband $55k, wife $55k)
- if you're 55yo and above, you'll have to put full Min Sum in your CPF

ONLY the excess of the amount can be used to finance your 2nd property.
If I don't satisfy the CPF requirement, can I still buy a condo, pay down payment with cash and pay installment in cash, stay in the condo and rent out the HDB? From what I heard and read so far, the answer seems to be yes. Can anyone confirm?
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