{"id":8219,"date":"2016-02-29T18:41:18","date_gmt":"2016-02-29T11:41:18","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-cuts-development-charges-amid-soft-market\/"},"modified":"2016-03-16T21:08:56","modified_gmt":"2016-03-16T14:08:56","slug":"govt-cuts-development-charges-amid-soft-market","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-cuts-development-charges-amid-soft-market\/","title":{"rendered":"Govt cuts development charges amid soft market"},"content":{"rendered":"


\n\u00a0
\nUPDATED: 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.
\nThe review is carried out on a half-yearly basis, with consultation from the Chief Valuer, said the MND.
\nDesmond Sim, Research Head at CBRE, said the consultancy is unsurprised by the downward revision in rates.
\n\u201cThis is on the back of a softening real estate market, both on the commercial occupier end and a general weakness on the residential front, due to the cooling measures.\u201d
\nThe DC rates for the industrial sector fell the most by an average of three percent. The largest decline of 16 percent was seen in areas such as Jurong West, Tuas and Lim Chu Kang.
\nThe commercial and non-landed residential sectors also saw corrections in their DC rates, by an average of two percent and one percent respectively.
\nFor the residential sector, the largest decrease of four percent applies to a number of areas including Bukit Timah, River Valley Road and Sentosa.
\n\u201cAny further corrections in future revision of DC rates could encourage owners to intensify use and unlock the potential of the land,\u201d added Sim.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Govt cuts development charges amid soft market<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 UPDATED: The development charge (DC) rates paid by developers to enhance a site or...<\/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-8219","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\/p75ss1-28z","jetpack-related-posts":[{"id":118431,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mnd-revises-development-charge-rates\/","url_meta":{"origin":8219,"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":97138,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-charge-for-private-condos-hiked-by-up-to-33\/","url_meta":{"origin":8219,"position":1},"title":"Development charge for private condos hiked by up to 33%","date":"September 3, 2018","format":false,"excerpt":"\r The development charge (DC) rate for landed housing in Singapore remains the same from 1 Sep 2018 to 28 Feb 2019, while that for non-landed residential was increased by 9.8 percent on average, said the Ministry of National Development (MND) on Friday (31 Aug). In particular, the DC rate\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33438,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/plan-to-build-integrated-development-next-to-buangkok-mrt-station\/","url_meta":{"origin":8219,"position":2},"title":"Plan to build integrated development next to Buangkok MRT station","date":"November 8, 2016","format":false,"excerpt":"\r View of the open field next to Buangkok MRT station. (Photo: Christopher Chitty) The government plans to transform the open field next to the Buangkok MRT station into an integrated development, revealed the Ministry of National Development (MND) on Monday (7 November). In a written reply to a parliamentary\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112892,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/government-releases-gls-residential-sites-for-1h-2020\/","url_meta":{"origin":8219,"position":3},"title":"Government releases GLS residential sites for 1H 2020","date":"December 5, 2019","format":false,"excerpt":"\r The Ministry of National Development (MND) announced on 3 December it will release three confirmed\u00a0sites for private residential developments in the 1H 2020 Government Land Sales (GLS) programme. The 1H 2020 sites will yield a combined 1,775 units. While the number of sites and units released\u00a0is lower\u00a0than the\u00a0five confirmed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71104,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-sales-soars-by-over-4-fold-says-mnd\/","url_meta":{"origin":8219,"position":4},"title":"En bloc sales soars by over 4-fold, says MND","date":"November 7, 2017","format":false,"excerpt":"\r An aerial view of Rio Casa, a 286-unit development at Hougang Avenue 7. (Photo: Knight Frank Singapore) Collective sales have surged from around 600 units for the whole of 2016 to about 2,700 existing private homes so far this year, revealed the Ministry of National Development (MND) during a\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":8219,"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\/8219"}],"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=8219"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/8219\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=8219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=8219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=8219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}