Recent changes to Singapore’s land betterment charges have reflected “underlying weaknesses” in the property market, according to property consultancy company JLL.
The revised rates cover commercial , landed residential , non-landed residential , and hotel/hospital uses. For Group C, which includes hotel and hospital land, rates have risen by 0.6% on average, with 16 sectors experiencing increases of 3% to 6%, while the remaining 102 sectors had no change. Despite these changes, JLL does not foresee a major short-term impact on the overall market. Tan Hong Boon, executive director of Capital Markets at JLL, noted
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