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Extension charges on unsold homes no longer an issue

SLA chairman says this shows how hot property market is; in previous year, developers paid S$50m in penalties

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Published Mon, Apr 30, 2018 · 09:50 PM

    Singapore

    DEVELOPERS are paying "almost nothing" in extension charges this year, said Sim S Lim, Singapore Land Authority chairman on Monday.

    It's an indication of the hot property market which includes purchases of replacement homes from en bloc sellers, said Mr Lim who was speaking to The Business Times on the sidelines of DBS Group Holdings' Q1 2018 results briefing. Mr Lim is also DBS Bank Singapore country manager.

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