You are here

Extension charges on unsold homes no longer an issue

SLA chairman says this shows how hot property market is; in previous year, developers paid S$50m in penalties

QC rules require all foreign developers, defined as having at least one foreign shareholder and/or director, to finish building their projects within five years of acquiring the site; they also have to sell all the units within two years of obtaining the temporary occupation permit.


DEVELOPERS are paying "almost nothing" in extension charges this year, said Sim S Lim, Singapore Land Authority chairman on Monday.

It's an indication of the hot property market which includes purchases of replacement homes from en bloc sellers, said Mr Lim who was...

Market voices on: