14 Feb '14, 6am

Sales of smaller units decline - Property Auctions News, Property Investment | PropertyGuru

“Most of the completed shoeboxes last year were purchased about two to three years ago when prices were still relatively low, and rental yields for the buyers would have been attractive - like in excess of 6 percent gross - so attractive that it would have deterred them from selling as there are hardly any investment alternatives if they were to sell.” Lee Lay Keng, Head of Singapore and Southeast Asia research for DTZ, added: “Based on the numbers provided, the sales of shoebox units actually fell by a smaller extent compared to a 40 percent year-on-year decline in total private home transactions in the primary and secondary markets.” Mohd Ismail, Chief Executive Officer of PropNex, said: “Considering that the overall volume of transaction of new launches and secondary market have both declined by about 30 percent (comparing 2012 and 2013), it is not surprising that the d...

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

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