14 Sep '17, 4am

New development charges to affect en bloc deals

The new DC rates are expected to lead to higher breakeven prices for developers. DBS expects the recent hike in development charge (DC) rates for condominiums to affect developers’ profitability as breakeven prices may increase by up to four percent, reported Singapore Business Review. It noted that while most of this year’s en bloc transactions already priced in a potential six to 18 percent hike in property prices to break even, the new DC rates could add another one to three percentage point to the assumed increase in prices to break even. SEE ALSO: Development charges for non-landed housing up 13.8% This comes as 116 of the 118 sectors have raised their rates by six to 29 percent, with Sector 100, which includes Hougang, Tampines Road, Sengkang and Punggol area, registering the biggest increase. The new DC rates would apply to cases that have been given provisional per...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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