Against the backdrop of a challenging macroeconomic environment, the government has announced muted adjustments in development charges (DC). The Ministry of National Development on Friday evening announced that it is raising DC rates for commercial use by 1.7 per cent on average for the period Sept 1, 2019 to Feb 29, 2020. The increase is only a shade of the 9.8 per cent hike for the last revision that...
Development Charges
The government has raised development charge (DC) rates for commercial use by 1.7 per cent on average for the period Sept 1, 2019 to Feb 29, 2020. This is a slower rate of increase than the 9.8 per cent hike for the last revision that took effect March 1 this year. DC rates for non-landed residential use have been trimmed by 0.3 per cent on average. This follows the 5.5 per cent cut in...
Development charge (DC) rates for redeveloping land have gone up for commercial and industrial sites, as well as plots slated for non-landed private homes, and hotels and hospitals. Land zoned for non-landed residential use had rates raised by 9.8 per cent on average, the Ministry of National Development (MND) said on Friday - its fifth straight increase, although down sharply from the 22.8 per cent...
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 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 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...
The Ministry of National Development (MND) has revised the rates for development charges (DC) for the next six months, as part of its half-yearly review. The increases in the rate of DC, the tax payable by the developer when a property site is developed into a more valuable project, will take effect from March 1. On average, the rates for landed residential property have increased by 18 per cent, with...
In the latest signal that the market for private homes has cooled, the Ministry of National Development (MND) yesterday announced minimal changes in the development charges for residential sites. A tax on property developers for site enhancement, the development charges payable in the next six months for non-landed residential sites were raised on average by a marginal 2.6 per cent. The latest hike,...
The government is raising property development charges with effect from Saturday. This follows the regular six-monthly review on development charge rates. For non-landed residential use, the charge was raised by an average of 58 percent with prime areas like Cantonment Road seeing the biggest jump of 112 percent. For commercial use, the hike is an average of 42 percent. Market watchers say an increase...