Sales of shoebox units most active in suburbs - Property Auctions News, Property Investment | PropertyGuru

Sales of shoebox units most active in suburbs - Property Auctions News, Property Investment | PropertyGuru

With its lower price quantum and higher rental yields, shoebox units or units that are 50 sq m and below are gaining popularity particularly in the Outside Central Region (OCR), according to a Knight Frank report. During the first nine months of 2013, the OCR accounted for 53.3 percent of new sale shoebox transactions. The report noted that this proportion “spiked to 78.7 percent in Q3 2013 due to strong sales at J Gateway, which had 223 caveats lodged for shoebox units in the quarter”. The OCR also registered the highest increase in prices, with the average psf price rising 10.7 percent to S$1,523 psf. Prices of high-end shoebox units in the Core Central Region (CCR) climbed by 2.2 percent to S$2,322 psf, while mid-tier shoebox units in the Rest of Central Region (RCR) rose 8.8 percent to S$1,640 psf. The rise in prices has narrowed the price gaps between the OCR and RCR/...

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