S'pore govt hikes development charges for residential properties for 5th straight time

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SINGAPORE (Sept 1): Developers of residential and commercial real estate from today will have to pay higher development charges — the fifth straight increase since September 2016.

This follows the revised development charge (DC) rates for the period from Sept 1, 2018 to Feb 28, 2019 by the Ministry of National Development which was announced on Friday night.

The DC is a tax levied on developers to carry out development projects that increase the value of land, including rezoning to a higher value use and increasing... (Click here to read the full story)