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Hotel, commercial use groups see biggest chops in DC rates
Rates fell by 7.8 per cent for hotel/hospital use and 3.6 per cent for commercial use on average
Published Mon, Aug 31, 2020 · 09:50 PM
Singapore
HOTELS and commercial property, which have received the biggest drubbing from the Covid-19 pandemic, are the use groups with the largest cuts in development charge (DC) rates for the next half-year period.
DC rates for the non-landed residential and industrial use groups - property market segments that have been relatively less scathed by the virus outbreak, saw more modest declines in the latest revision of DC rates unveiled on Monday evening.
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