Development charge rates for non-landed residential use up 13.8%

Find out which sector posted the biggest increase of 29%.

With the increasing hype around collective sales, the development charge (DC) rates for non-landed residential use has been raised by a sharp 13.8% on average.

According to the Urban Redevelopment Authority (URA), DC rates for non-landed residential use went up in 116 of the 118 geographical sectors by around 6% to 29%. The biggest increase of 29% was from Tampines Road, Hougang, Punggol and Sengkang.

According to KGI, the "collective-sale fever heating up in Singapore" boosted DC rates for non-landed residential use.

Meanwhile, DC rates for commercial use went up by 3.8% on average. Out of the 118 sectors, 59 have increases in DC rates ranging from 3% to 11%. The largest 11% applies to sectors 101, 113, 114, and 115.

DC rates for residential landed use also rose by 0.3% on average. Five of 118 sectors had growths ranging from 7% to 9%. Rates remained unchanged for 113 sectors.

The largest 9% increase applied to sector 100, with Tampines Road, Hougang, Punggol, and Sengkang area.

The changes to the DCs are for the period between Sept 1, 2017 and Feb 28, 2018.