Here is a useful FAQ from HDB on how much CPF you can use for leasehold properties. Basically, the Minimum Lease Period (MLP) is now 30 years and the CPF that can be withdrawn depends on the property lease and CPF member age. The formula is
Remaining lease when member is 55 years old / Property lease at the point of purchase x (purchase price or valuation whichever is lower)
For example, if a CPF member aged 38 years old buys a leasehold property with 48 years remaining, the maximum CPF that he or she can withdraw from CPF, is
(48 - (55 - 38)) / 48 x (purchase price or valuation whichever is lower)
PS the maximum CPF withdrawal is also subject to the CPF Minimum Sum if CPF member owns more than 1 property
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