Can I use CPF for a new launch?
Yes. CPF Ordinary Account (OA) funds can be used to pay for the purchase price and monthly mortgage instalments of a private property, including new launch condos still under construction.
The Valuation Limit
You can use CPF up to the Valuation Limit — the lower of the purchase price or the property's market valuation. Once the Valuation Limit is reached, you must top up with cash unless you have enough CPF savings to cross the next threshold.
The Withdrawal Limit
The Withdrawal Limit is 120% of the Valuation Limit. Beyond this, no further CPF can be used for the property regardless of your OA balance.
CPF for progressive payments during construction
For new launches, you pay in progressive tranches tied to construction milestones. CPF can be used for each tranche as they fall due, as long as you remain within the Valuation Limit.
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