For HDB flats with leases of less than 60 years, the following rules apply:
(1) No CPF can be used if the remaining lease of a property is less than 30 years.
(2) A property owner is eligible to use his CPF for the property if his age plus the remaining lease of the property is at least 80 years.
(3) The maximum amount of CPF that can be used is capped at a percentage of the lower of the purchase price and the value of the property at the time of purchase. The percentage is computed based on the remaining lease of the property when the youngest eligible member using CPF reaches age 55.
You can use the CPF Calculator to calculate the amount of CPF allowable to be used.
In conclusion, you cannot fully use the CPF if the purchasing property is less than 60 years lease. But don’t get me wrong, I’m not here to tell you not to purchase property less than 60 years lease, but you deserve to have your own check before action. You are welcomed to contact Mr. Property Hunt for assistance.