Commercial DC rates may dip while rates for landed homes may go up in some areas
With revisions to development charges (DC) due on Sept 1, some property pundits say that the Chief Valuer (CV) may have a challenge on her hands, given the shift in the direction of the residential property market.
‘Chief valuer employs historical data to revise DC rates that will be applied over the next six months. But these historical transactions may be too far off from the market conditions in the next half year,’ says JLL’s head of SE Asia research Chua Yang Liang. ‘In short, the CV has the difficult task of balancing past decline and future growth. The key question is: How much weight should she place on the current market sentiment?’
Agreeing, Colliers International director Tay Huey Ying says: ‘The main challenge facing the CV in assessing DC rates this round would be to assess accurately the conditions of the various sectors of the property market for the next six months.’ And while the economic outlook Continue reading
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