For a condo purchase at $1.5million, which has been valued at $1.45 million
Valuation Limit (VL) = $1.45 million (The VL is equal to the valuation of the property)
Withdrawal Limit (WL) = $1.45 million x 1.2 = $1.74 million.
To use your CPF savings beyond your VL, you would have to:
• Meet the Basic Retirement Sum (BRS) in your Ordinary Account (OA) and Special Account (SA) if you’re below 55, or
• Meet the BRS in your OA, SA and Retirement Account (RA)if you’re 55 and above
However, once you hit your withdrawal limit (WL), you will have to start paying in cash regardless of having met the BRS or not.
To better understand how much of your CPF you can utilise in your circumstances, do check out the CPF Housing Usage Calculator.