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Development charges for hotel use jump 45.6%

DC rates for commercial use also raised 9.8% on average; non-landed residential rates down, but are not expected to revive the market for en bloc sales

Kalpana Rashiwala

Published Thu, Feb 28, 2019 · 09:50 PM

Singapore property

Singapore

AMID waning interest in private residential developments sites following last July's cooling measures, development charge (DC) rates for non-landed residential use have been lowered for the first time in three years.

In contrast, DC rates for hotel and commercial use - areas that have been hotbeds of investor interest - continue to rise.

In particular, the rates for the use group that includes hotels and hospitals have been jacked up 45.6 per cent on average, based on latest DC rates announced by the government.

Effective for the next six months, they follow the 11.8 per cent increase imposed last September.

Developers pay DC for …