Average 3% to 11% drop in Land Betterment Charge for residential, non-landed use

The Singapore Land Authority has just announced the Land Betterment Charges (LBC) for the next six months starting from September 1. Those in the residential, non-landed Use Group B2 are expected to be pleased as they will experience a decrease of 3% on average. Out of 118 sectors, 111 will see a decline in LBC rates from 3% to 11%. The remaining sectors remain unchanged.

The Marina Bay area, Shenton Way, and Raffles Quay, which are sectors 11, 12, 13 and 14, will witness the greatest decrease of 11%.

However, Use Group A (Commercial) has an overall average increase of 0.4%. Though only twelve out of the 118 sectors will experience increases of 3-4%, the rest remain at the same level. This slight increase can be attributed to the Return to Office (RTO) trend which might cause a decrease in vacancy rates.

Use Group C (Hotel/Hospitality) also saw an average increase of 3%. Out of the 118 sectors, only two remained unchanged, and 116 experienced an increase of 3% to 5%. This is likely thanks to the improving outlook for tourism and hospitality.

All of these facilities are within easy reach of the Woodlands Condo development, making it one of the premier living locations within the area. The condos offer spectacular sea views and you can enjoy beautiful sunsets from the comfort of your own balcony. The landscaped gardens, jogging trails and swimming pools provide a great outdoor atmosphere. Residents have access to full-time security and the condo also features a gymnasium and other recreational facilities. In terms of accessibility, Woodlands Condo is well served by public transportation and is conveniently located close to amenities such as shopping malls, medical facilities and educational institutions.

No changes were reported for other use groups like Residential, Landed (B1) and industrial (D).