The CPF Board said this week that around 4,580 Singaporeans couldn’t refund the full amount of CPF they used for housing, after selling their property. This number was higher than around 3,960 people the year before, and around 3,380 people in 2018. That’s rather unexpected since 2020 saw home prices reach a new peak. So how could we also be seeing so many negative cash sales? What’s a negative cash sale? When buying a residential property, you can use your CPF Ordinary Account (CPF OA) to cover the down payment, stamp duties (including Additional Buyers Stamp Duty), and monthly loan repayments. However, upon sale of the property, you must refund all the CPF monies used, along with the accrued interest rate of 2.5 per cent. This is partly to ensure you can’t withdraw your CPF money early, in a roundabout manner (otherwise you could use your CPF to buy the property, then sell the property, and pocket the cash early)....