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Property and construction sectors will be directly under fire when singapore slows down due to US recession.. and last friday the govt jus increase the development charge to control supply as there is an supply overhang in the pte property mkt.. hence.. developer and construction companies margins will be squeeze again... and rising cost of materials will also marginalise the profit too..
avoid all the counter like weehur, yongnam, lian beng, CES for time being... even there is some play for the youth olympic.. its still a few years from now. Can probably get it cheaper by then. Just my opinion.
Perhaps, elf.. u have something to comment here?
Revision of development charge rates
The Ministry of National Development, in consultation with the Chief Valuer, has revised the rates of development charges (DC) for the period 1 Mar 2008 to 31 Aug 2008. The Chief Valuer has taken into account the current market values in the half-yearly review of the rates.
DC rates for use groups A, B2, C & D have increased; while the other use groups B1 and E-H remain unchanged (see Appendix 1 for Table of DC rates and Appendix 2 for the list of use group). When compared against Sep 2007 DC table, the rates for Commercial use group A have risen by an average of 1.5%, Residential (non-landed) use group B2 increased by 2.6%, Hotel and Hospital use group C by 3.3%; and Industry/warehouse use group D by 16.8%.
There is no change to the number of geographical sectors and their boundaries. The revised DC rates would also apply to cases which are granted 2nd or subsequent extension to their Provisional Permission.
If there is disagreement over the rate of DC payable for any development proposal under Use Groups A-H, developers and owners can opt for case-by-case valuation by the Chief Valuer as provided for in the Planning Act.
For any enquiries on DC sectors and use groups, please contact Ms Heng Siok Ngo of URA at Tel: 6321 6506, and for those on valuation matters, please contact Ms Loh Chye Ling of IRAS at Tel: 6351 4138.
Issued by the Ministry of National Development
caveat emptor applies..