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Singapore Private Property – Basic Info On Using Your CPF To Buy One!

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Under the Residential Properties Scheme (RPS), your CPF Ordinary Account savings, and future monthly CPF contributions in this account can be used to buy a Singapore private property (residential) but you must pay the first 5% of the purchase price of the property with cash. For simplicity sake, I shall focus on brand/ relatively new properties.

For a Singapore private property (residential) with remaining lease of at least 60 years

The RPS allows you to use your Ordinary Account savings, and the future monthly CPF contributions in this account to purchase a property and/ or to pay the monthly housing loan instalments up to 100% of the Valuation Limit (VL). The VL is the lower of the purchase price or the value of the property at the time of purchase. View example [PDF].

However, RPS requires the CPF member to pay the first 5% of the purchase price of a property with his/her own money before allowing CPF savings to be utilised.

Read more on Terms and Conditions of RPS [PDF].

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