Land betterment charge

The government is also exploring longer tenures for state properties, especially those that enable ‘innovative development’

Rates for place of worship, civic and community institution use to rise by 2.9% on average; rates for hotel, hospital, nursing home use to remain unchanged

Land betterment charge rates for place of worship and civic and community institution use group are raised by 6% on average

Rates are up for landed residential, commercial and hotel/hospital use groups; no change for industrial use group

Rates up an average 3.8% for commercial, 7.8% for landed residential, 0.1% for non-landed residential, 0.7% for hotel, and 1.7% for industrial use

PROPERTY groups’ profit margins for Singapore residential developments have whittled down significantly over the years. And this has weighed on the market valuations for the likes of City Developments...

LBC rates raised by average of 0.4% for commercial use and 3% for hotel use; no change for all other uses including landed residential and industrial

Rates increased by average of 0.4% for landed residential use, and 1% for hotel/hospital use group; no changes for commercial and industrial use groups