Hikes in DC rates mirror recovery in most segments of Singapore property market

Singapore

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.