{"id":114644,"date":"2020-03-02T11:05:26","date_gmt":"2020-03-02T04:05:26","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-charges-for-non-landed-homes-trimmed-0-2-on-average\/"},"modified":"2020-03-02T11:10:53","modified_gmt":"2020-03-02T04:10:53","slug":"development-charges-for-non-landed-homes-trimmed-0-2-on-average","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-charges-for-non-landed-homes-trimmed-0-2-on-average\/","title":{"rendered":"Development charges for non-landed homes trimmed 0.2% on average"},"content":{"rendered":"


\nThe cut follows a 0.3% and 5.5% decrease in DC rates during the September 2019 and March 2019 review.\u00a0
\nThe development charge (DC) rates for non-landed residential use have been slashed by 0.2% on average, on the back of a muted Government Land Sales (GLS) bidding and slower economic outlook.
\nThe cut follows a 0.3% and 5.5% decrease in DC rates during the September 2019 and March 2019 review, respectively.
\nTricia Song, Head of Research for Singapore at Colliers International, believes the trimming of DC rates would be \u201cmodestly comforting for property developers who have had to grapple with more uncertainties following the roll-out of new cooling measures in July 2018 and now the COVID-19 outbreak\u201d.
\nNotably, five out of the 118 sectors witnessed a DC rates reduction of between 3% and 7%. Rates were unchanged for the other 113 sectors.
\nThe biggest decrease of 7% applies to Sector 34 which include areas like Sophia Road and Upper Wilkie Road as well as Sector 35 which include Cavenagh Road, and Bukit Timah Road.
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\n\u201cThis could be due to the collective sale of Casa Sophia in January 2020, which was sold for $29 million or $1,205 per sq ft per plot ratio (psf ppr). That was below the implied land rate in Sector 34 ($1,347 psf) before 28 February 2020,\u201d said Song.
\nShe added that the DC rate decline of 5.4% in Sector 46, which includes Grange Road and Irwell Bank Road, could be due to the Irwell Bank GLS site tender that registered a top bid of $1,515 psf ppr. Aside from being significantly lower than expectation, the figure was also below the implied land rate in the Sector of $1,719 psf before 28 February.
\nMeanwhile, the DC rates remained unchanged for commercial, landed residential, hotel\/hospital, industrial and place of worship\/civic and community institution uses as well as for three other land-use groups \u2013 namely, nature reserve; agriculture; and drain, road, railway and cemetery.
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Development charges for non-landed homes trimmed 0.2% on average<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The cut follows a 0.3% and 5.5% decrease in DC rates during the September 2019...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-114644","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-tP6","jetpack-related-posts":[{"id":118431,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mnd-revises-development-charge-rates\/","url_meta":{"origin":114644,"position":0},"title":"MND revises Development Charge rates","date":"September 1, 2020","format":false,"excerpt":"\r Use Group C (Hotel\/Hospital) registered the greatest overall declines in DC rates at 7.8% on average as it is the hardest hit sector by the COVID-19 pandemic. The Ministry of National Development has decreased the Development Charge (DC) rate for commercial, non-residential, hotel\/hospital and industrial use groups for the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":65390,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-charges-for-non-landed-housing-up-13-8\/","url_meta":{"origin":114644,"position":1},"title":"Development charges for non-landed housing up 13.8%","date":"September 4, 2017","format":false,"excerpt":"\r There has been a spike in demand for residential development land in Singapore, contributing to the hike in development charges. In consultation with the chief valuer, the development charge (DC) rates for landed residential, non-landed housing and commercial space have been revised upwards for the period of 1 September\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121769,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-charge-rates-up-for-residential-use-slashed-for-commercial-use\/","url_meta":{"origin":114644,"position":2},"title":"Development charge rates up for residential use, slashed for commercial use","date":"September 1, 2021","format":false,"excerpt":"\r Development charge rates up for residential use, slashed for commercial useFor landed residential use, the DC rates have increased by 6.3% on average, while the DC rates for commercial use have been slashed by the Government for the third consecutive time, by\u00a00.7% on average. Photo: 2 Cluny Hill Bungalow\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/09\/2-cluny-hill-gcb-crop.png?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":104527,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-charges-for-non-landed-homes-fell-5-5\/","url_meta":{"origin":114644,"position":3},"title":"Development charges for non-landed homes fell 5.5%","date":"March 1, 2019","format":false,"excerpt":"\r The decline in DC rates comes as no surprise following the implementation of new property curbs in July. The development charge (DC) rates for non-landed residential properties fell by 5.5 percent on average, following a slowdown in residential land activity. The drop in DC rates for non-landed homes was\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8219,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-cuts-development-charges-amid-soft-market\/","url_meta":{"origin":114644,"position":4},"title":"Govt cuts development charges amid soft market","date":"February 29, 2016","format":false,"excerpt":"\r \u00a0 UPDATED: The development charge (DC) rates paid by developers to enhance a site or build bigger projects on them were trimmed by the Ministry of National Development (MND) for the period of 1 March to 31 August 2016. The review is carried out on a half-yearly basis, with\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":46008,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-charge-rates-increased-for-three-use-groups\/","url_meta":{"origin":114644,"position":5},"title":"Development charge rates increased for three use groups","date":"February 28, 2017","format":false,"excerpt":"\r Development charges have been increased for non-landed residential, hotel \/ hospital and commercial uses. The Ministry of National Development has revised the development charge (DC) rates for three use groups for the period from 1 March to 31 August 2017. The DC is a tax levied when planning permission\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/114644"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=114644"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/114644\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=114644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=114644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=114644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}