Can I use CPF to buy property?

What the Law Says

The Housing and Development Act governs the use of CPF for housing in Singapore, particularly for HDB flats. While the Act itself does not directly regulate CPF withdrawals, it empowers HDB to administer housing schemes where CPF savings may be applied — consistent with CPF Board rules made under the CPF Act.

You can use your CPF Ordinary Account (OA) savings to pay for eligible property purchases, including HDB flats, Executive Condominiums (ECs), Design, Build and Sell Scheme (DBSS) flats, and private residential properties (subject to conditions).

The amount you can withdraw is capped by the Valuation Limit (VL) — the lower of the property’s purchase price or its market valuation — and the Minimum Sum Topping-Up requirement. You must also maintain a minimum CPF OA balance (currently $20,000, though $30,000 is often advised for flexibility).

For HDB flats, the Housing and Development Act gives HDB authority to approve and regulate housing grants and financing arrangements involving CPF. Section 49 relates to HDB’s power to make regulations concerning housing finance, including those enabling CPF usage.

Statutory Text

The Board may make regulations prescribing the conditions under which moneys in the Ordinary Account may be withdrawn for the purpose of purchasing or constructing a dwelling house.

— Housing and Development Act, s. 49 — Power to make regulations

What to Do

Sources