When it comes to new launch prices, most Singaporeans are quick to pick up on the most obvious factors like land scarcity, agent commissions, or developer stamp duties. However, one factor that often slips under the radar – and that many Singaporeans have never even heard of – is the development charge, or DC, but now newly known as Land Betterment Charge (LBC) rates. Here’s why we should be paying attention to them: What are LBC rates? The LBC rates came into effect on 1^st August 2022. The LBC is a tax on the increase in land value, resulting from a development. The rate imposed is a percentage of the increase in land value; this is determined by SLA, working with the Chief Valuer (CV), and will also take into account recent land sales. Simply put, it’s another tax that developers will have to pay to the Singapore Land Authority (SLA) for the right to enhance the use of a land site...