27 Aug '13, 3am

Buyers shift focus to shoebox units: DTZ: Buyers are being drawn to more... property market

Buyers are being drawn to more affordable and smaller units following the government’s latest property cooling measures and stricter loan rules, according to a report from DTZ. During the second quarter, 2,571 buyers (38 percent) opted to buy homes below S$1 million, higher than the 1,835 buyers (31 percent) in the previous quarter. Purchases between S$1 million to S$1.5 million also increased to 33 percent or 2,265 units in Q2. In contrast, sales of homes prices from S$1.5 million to S$2 million fell to just 12 percent in Q2, while purchases between S$2 million to S$3 million slipped to nine percent. “The sharp increase in purchases of units costing below S$1 million was largely due to the sale of shoebox units (defined as units below 500 sq ft in size) within this price band. The proportion of shoebox unit purchases within this price band rose from 17 percent in Q1 to 29...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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