The amendments to the Housing Developers (Control and Licensing) Act will kick in this month, which would result in weekly collection and publication of transaction data and more comprehensive information in transaction documents for the private residential property market. Parliament had passed amendments to the Act to improve and update legislative safeguards for buyers of uncompleted private...
Property Development
Singapore has lowered development charges (DC) for non-landed residential projects, with the biggest decrease seen in the north-eastern region. In a news release on Friday (Feb 27), the Ministry of National Development (MND) said that the DC rates have fallen on average by 3 per cent for land for non-landed residential property. Seventy-three out of 118 sectors saw decreases ranging from 2 per cent to...
Charges that developers have to pay to enhance the use of land will be lowered for almost half of the geographical sectors in the non-landed residential segment for the next six months — the first decline since March 2012 — amid a slowing property market as a result of repeated rounds of government curbs. Analysts said the downward revision in development charge (DC) rates for the segment in the...
The push to raise productivity in Singapore’s construction sector is taking on a new focus this year. New rules will soon take effect, pushing for greater use of productive technologies such as prefabricated components. From the second half of 2014, developers will be required to use prefabricated bathroom units (PBUs) for all residential projects on government land sales sites. Singapore...
The Building and Construction Authority (BCA) has said the output productivity for building projects in the construction industry has risen by 1 to 2 per cent in the last couple of years. But it believes more can be done and it hopes developers can adopt new technologies such as the Prefabricated, Pre-finished Volumetric Construction and Cross Laminated Timber (CLT) in their projects. Whether it is...
The commercial property sector has been hit by the largest hikes in development charges (DC) — taxes payable on the enhancement in land value — in the latest half-yearly review, with the increases spread across many parts of Singapore, the Ministry of National Development said yesterday. Commercial DC rates for March to August this year have been revised upwards by an average of 15 per cent in 89...
The government has revised the development charge (DC) rates for the next six months, with increases seen in the DC rates for industrial and residential land sites. In a statement issued on Friday, the Ministry of National Development (MND) said the DC rates for other land use groups remain unchanged. A development charge is a levy that is payable by the developer when a property site is developed...
The government has revised the development charge (DC) rates, with the steepest increase in the commercial and industrial segments. A development charge is a levy that is payable by the developer when a property site is developed into more valuable project. In a statement, the National Development Ministry said DC rates for commercial segment will increase by an average of 24 per cent. Areas seeing the...
The government has lowered the development charge (DC) for non-landed residential sites by three per cent on average. This compared to the 12.2 per cent increase during the last revision exercise six months ago. The most significant decreases are in the Punggol Town/Upper Serangoon Road area, and the Hougang/Paya Lebar Road/Toa Payoh/Bishan areas, which will see rates fall by 14 per cent. Analysts say...
The Ministry of National Development (MND) has raised the development charges (DC) for new building projects in Singapore, effective from September 1. The new rates will apply to cases which are granted Provisional Permission (PP) or second and subsequent extension to the PP on or after the effective date, the ministry said in its half-yearly review on Wednesday. The DC rates for commercial projects have...