29 Jul '11, 3am

NUS study shows that shoebox units a cause for more volatile home prices

NUS study shows that shoebox units a cause for more volatile home prices

Shoebox apartments have made overall home prices here more volatile, with sharper price gains than larger homes. -- ST PHOTO: MUGILAN RAJASEGERAN SHOEBOX apartments have made overall home prices here more volatile, with sharper price gains than larger homes. This is a key finding in an analysis by the National University of Singapore (NUS) real estate department. An index tracking per sq ft prices of these tiny units of about 500 sq ft or less has rocketed up 62 per cent since March 2009, its post-crisis low. This outpaced the 51 per cent rise for the overall Singapore Residential Price Index (SRPI) over the same period. More recently, NUS data found that from March to May, small unit prices rose 7 per cent. This is again higher than the 3 per cent gain by non-landed homes in central and non-central areas, excluding shoebox homes. This is the first time the NUS SRPI - whic...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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