CPF rules, being close to family among reasons for upgrading to condos

SINGAPORE – School support staff member Nabisah Abdul Kadir decided to bite the bullet and upgrade to a new condo just one year before she hits 55, an age when additional restrictions on Central Provident Fund (CPF) withdrawals kick in.

Madam Nabisah, 54, who has a daughter, sold her 43-year-old four-room HDB flat in Pandan Gardens for $410,000 in September and took out a loan to buy a $1.5 million three-bedder at the nearby 520-unit Twin VEW condo. She collects her keys in January.

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