DC rates rise to play catch-up with land prices
Average rates up 4% for non-landed residential, 1.3% for commercial and 2.6% for hotel use; down for industrial
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Singapore
AMID strong developer appetite for condo development sites which has buoyed land prices, the government has upped the average DC (development charge) rate for non-landed residential use by 4 per cent for the March 1-Aug 31, 2017 period.
This is the second consecutive hike in the average DC rate for such use, following the 2.7 per cent rise during the previous revision six months earlier.
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