{"id":97138,"date":"2018-09-03T10:35:37","date_gmt":"2018-09-03T03:35:37","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-charge-for-private-condos-hiked-by-up-to-33\/"},"modified":"2018-09-03T11:02:51","modified_gmt":"2018-09-03T04:02:51","slug":"development-charge-for-private-condos-hiked-by-up-to-33","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-charge-for-private-condos-hiked-by-up-to-33\/","title":{"rendered":"Development charge for private condos hiked by up to 33%"},"content":{"rendered":"


\nThe 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).
\nIn particular, the DC rate for non-landed homes was hiked by 3.0 percent to 33 percent across 75 out of 118 geographical sectors, while that for the remaining 43 sectors was unchanged.
\nThe biggest increase took effect in Sector 43 and Sector 67. The former comprises Tanglin Road, Cuscaden Road, Orchard Blvd and Grange Road, while the latter covers Dalvey Road, Stevens Road, Anderson Road, Orange Grove Road, Tanglin Road, Napier Road and Cluny Road.
\nMore: Developers expect condo prices to fall.
\nZACD Group executive director Nicholas Mak told the Business Times that the new DC rate hike was more focused than the prior one for non-landed residential. In 1 March 2018, the levy for this usage group was raised by 12 percent to 38 percent across 116 out of 118 areas, with sectors 19, 23 and 34 seeing the largest gain.
\n\u201cThe general upward revision of DC rates is in line with the other pre-emptive measures put in place to cool the property market and tame bullish bids by developers,\u201d noted OrangeTee & Tie\u2019s research head Christine Sun.
\nMore: Savills still upbeat over condo prices.
\n\u201cMoving forward, such steep increases in DC rates are less likely to be seen as the en bloc market is already cooling off and developers\u2019 thirst for land is moderating after the property measures,\u201d she added.
\nHuttons Asia\u2019s research head Lee Sze Teck concurs, forecasting that the future DC rate hike for non-landed residential will likely range from zero to 2.0 percent.
\nIn consultation with the Chief Valuer, MND revises DC rates biannually on March 1 and Sept 1 for different land uses across 118 geographical sectors in the city-state. Such levy is payable when the site owner intensifies or enhance the use of the property.
\n\u00a0
\nLooking to purchase a new home? Read our\u00a0in-depth reviews\u00a0of all new launches or check out our\u00a0buy\/rent guides.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Development charge for private condos hiked by up to 33%<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The development charge (DC) rate for landed housing in Singapore remains the same from 1...<\/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-97138","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-pgK","jetpack-related-posts":[{"id":121769,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-charge-rates-up-for-residential-use-slashed-for-commercial-use\/","url_meta":{"origin":97138,"position":0},"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":118431,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mnd-revises-development-charge-rates\/","url_meta":{"origin":97138,"position":1},"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":114644,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-charges-for-non-landed-homes-trimmed-0-2-on-average\/","url_meta":{"origin":97138,"position":2},"title":"Development charges for non-landed homes trimmed 0.2% on average","date":"March 2, 2020","format":false,"excerpt":"\r The cut follows a 0.3% and 5.5% decrease in DC rates during the September 2019 and March 2019 review.\u00a0 The 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\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":97138,"position":3},"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":24589,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-charges-for-non-landed-residential-sites-up-2-7\/","url_meta":{"origin":97138,"position":4},"title":"Development charges for non-landed residential sites up 2.7%","date":"September 1, 2016","format":false,"excerpt":"\r The upward revision in DC rates for non-landed residential sites may have been fuelled by the bullish bids for several GLS sites in the past six months, said analysts. The development charge (DC) rates for non-landed residential sites have been raised by an average of 2.7 percent for the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81478,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-charge-rate-hike-wont-dampen-collective-sale-fever\/","url_meta":{"origin":97138,"position":5},"title":"Development charge rate hike won't dampen collective sale fever","date":"March 1, 2018","format":false,"excerpt":"\r The development charges for non-landed homes is up by 22.8 percent. The Ministry of National Development, in consultation with the Chief Valuer, has raised the development charge (DC) rates for non-landed residential use by an average of 22.8 percent, on the back of aggressive land bidding by developers at\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\/97138"}],"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=97138"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/97138\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=97138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=97138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=97138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}