Development charge (DC) rates for Singapore industrial properties has trimmed to 3% on average by the Ministry of National Development (MND), while all other use groups like commercial, residential, hotel/hospital and place of worship, rates will remain unchanged until 29 February next year.
Out of 118 Singapore geographical sectors, 87 have been cut by 3% to 4% as for industrial sites DC rates, then 31 remaining sectors stay unchanged.
Changes in industrial DC rates was seems to happen after a strong decline in property market, the shortening of output in manufacturing sector and a dip in export orders during the slow economy of Chinese.
The 4% biggest drop affect the areas of Kaki Bukit, Tampines Road, Sengkang West, Simei and Jurong West.
From March to August, only 5 industrial sites were recorded via the Government Land Sales (GLS) programme, resulting to the fewest number of sales for 6-month period prior to the announcement of DC rate back March 2010. The authorities offered the sites and drew lower bids with lower prices.
Singapore Property offers some of Industrial property with good potential in business such as Proxima @ Gambas and Mandai Foodlink B2 Food Industrial.
