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...
Property Development
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 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...
Proposed changes to the Housing Developers (Control & Licensing) Act will cover all housing developers and not just those developing projects with more than four units. The Urban Redevelopment Authority (URA) said this is so that buyers of units in these smaller developments can also benefit from the protection accorded under the Act. The suggestion was made during a month-long consultation exercise...
The Urban Redevelopment Authority (URA) is encouraging developers of shoebox units to increase the size of their units, up from 28 sq m to 35 sq m, according to a report in The Business Times. Many analysts said that promoting bigger shoebox units may likely help to cool the property market since the micro apartments have been blamed for fuelling increases in psf prices at property launches. A...
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...
Developers will have to work in higher costs for new projects, as the development charge (DC) rates for both non-landed and landed residential homes have been increased. They have gone up by an average of 13 per cent. This is largely within market expectations, given the broad-based recovery in the property sector. But the announcement comes one day after the government announced new measures to cool...
The government has increased the development charge rate for both non-landed and landed residential homes. Analysts said this is in line with the strong rebound in home sales and prices over the last six months. The rise in non-landed residential DC rates, in particular, is expected to add on to developers' land banking cost. Private homes were hot property in 2009. Some 6,300 units have been sold in the...
The government has lowered the redevelopment tax on non-landed residential property by 15 per cent on average – a more drastic cut than the 6 per cent it made half a year ago. The biggest reductions affect higher-end properties in prime locations, including Marina Bay, Robertson Quay, River Valley, Orchard Road, Grange/Tanglin, Newton and Holland Road areas. Some market watchers had been hoping for...
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,...