Hikes in DC rates mirror broad-based recovery in most segments of S'pore property market

Reflecting the broad-based recovery in most segments of Singapore's property market in the past 6 months, the government has raised development charge (DC) rates for the landed and non-landed residential, commercial and industrial use groups.

The exception was for the use group that includes hotels - a sector that has posted a relatively muted performance under the weight of the prolonged pandemic - which saw a 0.7 per cent drop in the average DC rate for the next half-year starting Mar 1, 2022.

Developers pay a DC for the right to enhance the use of some sites or to build bigger projects on them. The Ministry of National Development has raised DC rates for the landed residential use group by an average of 4.8 per cent and those for non-landed residential use by an average of 0.3 per cent for the the Mar 1 to Aug 31, 2022 period.