Direction of DC rates reversed for three use groups - for six months
On average, these rates are up by 2.7% for non-landed residential use, 0.6% for commercial use and 1.4% for hotel/hospital use
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Singapore
THE government has reversed the direction of development charge (DC) rates for three key use groups for the Sept 1, 2016, to Feb 28, 2017, period - on the back of improved sentiment in the property investment sales market.
DC is payable for enhancing the use of some sites or to build bigger projects on them. On average, DC rates have been raised by 2.7 per cent for non-landed residential use, 0.6 per cent for commercial use and 1.4 per cent for the use group that covers hotels and hospitals. However, DC rates remain unchanged for landed residential, industrial, place of worship/civic and community institution, and other use groups.
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