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Increased DC rates reduce profitability for recent en bloc transactions

Samantha Chiew Published on Tue, Sep 12, 2017 / 3:56 PM GMT+8

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SINGAPORE (Sept 12): The Singapore government in September raised the development charge (DC) rates for non-landed residential by 18.8% on average due to the euphoria seen in land transactions, according to DBS.

All except two sectors have already increased their rates by 6-29%.

In a Tuesday report, analyst Rachel Tan says, “We believe the higher rates might impact en bloc transactions which have not been granted Provisional Permit (PP) before September 1, 2017, thus raising land costs.”

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Increased DC rates reduce profitability for recent en bloc transactions