Tan Kin Lian asks,
At present, young people cannot use CPF to buy old HDB flats with a remaining lease of less than 60 years.
This has caused the prices of these old flats to fall sharply. Even so, the owners cannot find a buyer at a fair price. They have to take a very big cut. If they bought the flat on resale and paid a high price, they would suffer a large loss.
What can be done about this problem?
Gilbert Tan TS This problem very easy to solve. Just change HDB rules to allow buyers to use CPF until at least 20 years lease left. Can use CPF and get Bank loan. Automatically the resale HDB market will rebounce and demand will come back.