>

>

DC rates raised for three segments of the property market

By Michael Lim

/ The Edge Property |

March 1, 2017 1:13 PM SGT

The government has increased the development charges (DC) rates for three segments of the real estate market amid improved sentiment in the property market. These are charges that are levied by the government for enhancing the use of some land sites, or building bigger developments on them. DC rates are revised on a half yearly basis by the Ministry of National Development (MND), in consultation with the Chief Valuer.

According to MND, DC rates for three use groups - commercial, non-landed residential and hotel or hospital - have gone up, while DC rates for industrial use have decreased. However, the development charges will remain unchanged for landed residential, place of worship or civic and community institution and other use groups.

The DC rates for commercial use rose 1.3% on average, with the largest increase of 29% was in the Shenton Way/Raffles Quay/ Marina Bay Financial centre area. The DC rates for condominium went up by an average of 4%, with the sharpest increase of 17% for the Jalan Besar, Serangoon Road and Balestier Road areas.

It has also increased the DC rates for hotel or hospital by 2.6% on average, with the highest increase of 19% in several sectors including Tampines Road, Upper Paya Lebar, Ang Mo Kio Avenue 3 and 6, Lornie Road, Yuan Ching Road.

Meanwhile, DC rates for industrial use were slashed by 3.7% on average. According to MND, the revised rates will apply for the period March 1 to Aug 31 this year.

Tags:

Development charge

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Emerald of Katong hits 99% sales at launch, averaging $2,621 psf

2

Is it a Good Deal?: $1.03 million for a four-room HDB flat in District 10

3

Sim Lian Group’s Emerald of Katong: Will it be another top-seller?

4

Is it a Good Deal?: A 99-year leasehold three-bedder in Bedok sold for $1,098 psf

5

Novo Place EC achieves 57% sales on launch day at an average price of $1,654 psf

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00