[sgbuffett]

In 2020, around 4,580 people were unable to fully refund the CPF monies used after selling their properties, compared with around 3,960 people in 2019 and 3,380 in 2018.

The Board did not indicate the shortfall in funds for this group of people, nor gave a breakdown of those who bought Housing Board (HDB) flats and private property.

Can someone explain how it can happen?
I can't understand how it can ever happen:

1. Min down payment is 10%.
2. CPF HDB loan is 2.6%..bank is 1.6%  and monthly payments are made for 5 yrs minium before flat can be sold.

When flat is sold it pays down money taken from CPF@2.5% interest on outstanding amount taken plus outstanding debt.

The entire sale price cannot cover the amount taken from CPF is a bit hard to believe because there was 10% down-payment made.

It means th total debt (CPF money taken plus putstanding) was growing faster than price appreciation plus down-payment.

Means that the price appreciation was below 2.5% per year