Development charge rates up 0.3% for non-landed residential use, 1.5% cut for commercial use
Increase for non-landed residential rates is the first since rates began trending down in March 2019
Add BT as a preferred source
Singapore
IN tandem with the improving Singapore private housing market, the government has upped development charge (DC) rates for the landed and non-landed residential use groups for the half-year period starting March 1.
However, it is trimming DC rates for commercial use for the second consecutive time, albeit by a moderated 1.5 per cent on average, following the 3.6 per cent reduction during the previous revision that took effect Sept 1, 2020.
TRENDING NOW
Onitsuka Tiger pivots from Asics stripes to tap luxury market
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
Domestic capital reshapes China real estate deals as asset managers redirect to ‘China-for-China’ play
Singapore banks may need to address indirect exposure to captive coal in their financing policies
