Revising CPF use for older HDB flats may have severe repercussions. YahooFinance
Revising CPF use for older, resale HDB flats is “a long banana kick down the winding road”, said prominent real estate commentator Ku Swee Yong.
“My heart goes out to the young generation of home buyers. The new policy is a masterstroke, achieving the triple objectives of: paying out less CPF funds in future, keeping resale HDB prices high, and maintaining BTO prices. The repercussions of relaxing CPF use for old flats will be that more old people in future will need to seek social welfare.
Responding to Ku’s Facebook post, prominent economic commentator Chris Kuan said that revising CPF rules for the purchase of older HDB flats is a small relief and a small addition to HDB’s Lease Buyback Scheme, as well as schemes to downgrade to smaller flats.
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