Of the 1 million HDB flats currently, about 90,000 are more than 40 years old. Nevertheless, these older flats still remain appealing to buyers who are specifically looking at staying close to their parents, or that their priority could be the good and accessible location in mature estates. Restrictions on the use of CPF for older HDB flats has relaxed since 10 May 2019. The new rules are welcomed by most buyers as they are now able to use their CPF monies to buy a property at its full valuation limit. This is provided that the property has a remaining lease of minimally 20 years and is able to cover the youngest buyer till at least age 95. In this way, CPF has helped to unlock the values of older homes.
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