The Singapore government will not introduce measures to stimulate demand or prop up prices artificially in the property sector. Speaking at an industry event on Wednesday, National Development Minister Mah Bow Tan said such efforts are not sustainable. However, the government will study suggestions by market players on how to help the property sector. Developers are feeling the heat from the economic...
Development Charge
Developers seeking to raise the plot ratios of properties will be subject to a new definition of the development baseline, used in the computation of the property development charge, from Jan 1. The amendment, announced in 2003, had been deferred to allow the industry to adjust to the change, the Urban Redevelopment Authority said yesterday. “Basically we want to have a more equitable tax system,”...