In the latest development, the revised land betterment charge will provide a financial respite for non-landed residential properties, with a significant reduction. Meanwhile, Orchard retail landlords brace for a 6% rental hike by 2023. Stay informed on these shifting dynamics in the real estate sector.
A significant reduction of 3% to 11% in Land Betterment Charges (LBC) for residential, non-landed usage has been observed. The decrease is expected to relieve financial burdens on property owners while stimulating the housing market. This move comes as a respite amidst ongoing economic challenges, offering opportunities for prospective buyers and promoting economic growth in the real estate sector.
The renowned Urban Land Institute (ULI) has recently announced the appointment of Alan Beebe as the CEO of its Asia Pacific branch. With his impressive expertise in the region’s real estate industry, Beebe is expected to further enhance ULI’s mission of responsible land use and sustainable urban development across Asia. This strategic move reinforces ULI’s commitment to fostering collaboration and innovation in the rapidly growing Asia Pacific market.