Friday, February 24, 2012

Lower DC rates for commercial use likely: consultants

Business Times: Fri, Feb 24
(SINGAPORE) Development charges (DC) - payable to the state in exchange for the right to enhance the use of certain sites or to build bigger projects on them - have been revised upwards for most major use groups every six months since September 2010.

However, some property consultants say this trend could be reversed for some use groups in the upcoming revision which takes effect on Mar 1, as some sectors of the Singapore property market are approaching an inflexion point or have already turned, and the economic outlook is weak.

DC rates for commercial and non-landed residential uses are likely to come under pressure while those for industrial and landed residential use could stay firm...

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