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Showing posts from October, 2012

You won't believe costs of small apartments rose this much

2012 oct 29 http://sbr.com.sg/residential-property/news/you-wont-believe-costs-small-apartments-rose-much You won't believe costs of small apartments rose this much It's an uphill climb. According to resale price index release by National University of Singapore's Institute of Real Estate Studies, overall prices rose 0.6% in September compared to August data. Units in the Central region, exclusive of small ones, saw price hikes of 0.4% while those in the non-Central region saw 0.9% price hikes. Small units rose 1.4% compared to August data. The National University of Singapore (NUS) Singapore Residential Price Index Series (SRPI) is a transactions-based index that tracks the month-on-month price movements of private non-landed residential properties in Singapore.  Developed by a team of researchers at IRES, the SRPI provides a resource for the development of property derivatives that would help to expand the suite of financial products offered in Singapore, particular...

Singaporeans work the longest hours among top cities

2012 oct 18 http://sbr.com.sg/residential-property/news/singaporeans-work-longest-hours-among-top-cities Singaporeans work the longest hours among top cities More than 8 hours of work a day boosts shoebox popularity. According to recent study by Savills, shoebox units appeal most to young working population. It argues that as economies have undergone a structural shift from manufacturing to services, economic activity has become increasingly concentrated in core locations, putting a strain on often overburdened transport networks. The need for convenience, it said, often as a result of longer working hours (particularly true of global financial markets) has also helped to bolster the popularity of living close to work. "This shift has been made much easier by steadily improving 24/7 social infrastructure, allowing a level of convenience only dreamt of by parents and grandparents. Twenty-four hour convenience stores, take-away services, lifestyle coffee shops to relax in an...

The phenomenal rise of shoebox units in Singapore

2012 oct 18 http://sbr.com.sg/residential-property/news/phenomenal-rise-shoebox-units-in-singapore The phenomenal rise of shoebox units in Singapore Shoebox prices are presently commanding a 33.5% premium over all non-landed property values. According to Savills Research, in Singapore, the definition of a shoebox unit is confined to size. The Minister of National Development blogged that it is an apartment of less than 500 sq ft; however, there are others who believe that it should include units of up to 700 sq ft. The Urban Redevelopment Authority (URA), in its latest planning guidelines computing the maximum number of dwelling units on development land, uses 753 sq ft, but did not say explicitly that this refers to shoebox units. For the purposes of this report, the definition of a shoebox unit will be taken to mean units of less than 500 sq ft. Shoebox units started to take root in the latter half of the last decade. The completed apartments currently hitting the leasing m...

Buyers in Asian cities more open to shoebox units

2012 oct 18 http://www.facebook.com/notes/property-edge/bt-reports-buyers-in-asian-cities-more-open-to-shoebox-units-by-mindy-tan/534971729862743 Buyers in Asian cities more open to shoebox units These apartments command higher per sq ft values in Singapore BY MINDY TAN Property buyers in Asian cities such as Hong Kong, Singapore and Japan have been quicker to embrace designer shoebox apartments than their counterparts in old-world cities such as Sydney, London and New York. In Singapore, the lure of such apartments - defined as units of below 500 sq ft - comes from their higher per-square-foot values. A Savills World Research report said shoebox units are worth S$1,547 psf, giving them a 33.5 per cent premium over all non-landed property values. When rented out, such units command significantly higher rates; the average rent is now above S$6.50 psf a month, versus S$4.20 psf a month for units of between 501 sq ft and 1,500 sq ft. While the take-up for new shoebox units - which averag...

The rise of the shoebox unit

2012 oct 17 http://www.savills.co.uk/research_articles/141285/142893-0 The rise of the shoebox unit Old stereotypes are swept aside as this new concept catches on. 17 October 2012, Words by Yolande Barnes We note a rising trend in many cities towards smaller apartments, not just a bit smaller either, but much smaller. This new generation of small units is emerging in world cities across the globe, but is distinct from the shoebox units of the past. In Singapore, 300-sq ft units are being developed in quite substantial numbers, while in Hong Kong, 250-sq ft to 300-sq ft apartments are becoming more common in central locations. Tokyo has long had a reputation for compact quarters and apartments of 200 sq ft to 350 sq ft are the mainstream in the single-occupier rental market. Some older projects even offer units of 80 sq ft. In London, studios as small as 250 sq ft have been available in areas such as Bloomsbury since the 1930s but now specialist developers are starting to build exp...

Oct 13, 2012 Recent COMPLETED shoebox RESALE transactions

2012 oct 13 Recent COMPLETED shoebox RESALE transactions, from URA: THE COTZ TELOK KURAU ROAD Apartment 1 660,000 452 Strata 1,460 Oct-12 PARC HAVEN LORONG LIMAU Apartment 1 590,000 452 Strata 1,305 Sep-12 THE COTZ TELOK KURAU ROAD Apartment 1 599,000 409 Strata 1,464 Sep-12 CASA AERATA LORONG 26 GEYLANG Apartment 1 580,000 420 Strata 1,382 Sep-12 CITY REGENCY ST. MICHAEL'S ROAD Apartment 1 658,000 484 Strata 1,358 Sep-12 CASA AERATA LORONG 26 GEYLANG Apartment 1 572,000 420 Strata 1,363 Sep-12 TREVISTA LORONG 3 TOA PAYOH Condominium 1 755,000 463 Strata 1,631 Sep-12 OPAL SUITES OPAL CRESCENT Apartment 1 540,000 398 Strata 1,356 Sep-12 CASA AERATA LORONG 26 GEYLANG Apartment 1 572,000 441 Strata 1,296 Sep-12 CENTRA SUITES LORONG 25A GEYLANG Apartment 1 650,000 420 Strata 1,548 Sep-12 CASA AERATA LORONG 26 GEYLANG Apartment 1 560,000 441 Strata 1,269 Sep-12 CENTRA STUDIOS LORONG 25 GEYLANG Apartment 1 580,000 344 Strata 1,684 Sep-12 THE VERVE JALAN RAJAH Apartment 1 6...

Oct 13, 2012 Recent shoebox transactions

2012 oct 13 Recent shoebox transactions. From http://www.squarefoot.com.sg/latest-transactions 2012-09-27 8 BASSEIN 11 Novena Freehold Apartment 431 1,928 830,000 2012-09-26 EIGHT RIVERSUITES 12 Kallang 99 Yrs FROM 2011 Condominium 441 1,507 665,000 2012-10-01 THE COTZ 15 Bedok Freehold Apartment 452 1,460 660,000 2012-09-28 CRADELS 12 Novena Freehold Apartment 463 1,410 652,800 2012-09-25 D'ZIRE 19 Hougang 999 Yrs FROM 1875 Apartment 463 1,368 633,330 2012-09-21 V ON SHENTON 1 Downtown Core 99 Yrs FROM 2011 Apartment 474 2,434 1,153,000 2012-09-17 PARC CENTROS 19 Punggol 99 Yrs FROM 2012 Condominium 474 1,169 553,500 2012-09-24 ONE DUSUN RESIDENCES 12 Novena Freehold Apartment 484 1,662 805,000 2012-09-26 THE MKZ 9 Newton Freehold Apartment 495 1,991 985,700 2012-09-18 ONE DUSUN RESIDENCES 12 Novena Freehold Apartment 527 1,607 847,700 2012-09-18 ONE DUSUN RESIDENCES 12 Novena Freehold Apartment 527 1,587 837,200 2012-09-28 STELLAR RV 10 Tanglin Freehold Apartment 53...

Tiny home in a truck

2012 oct 10 http://shoeboxdwelling.com/2012/10/09/tiny-home-in-a-truck/#more-8962 Usually when we think of someone living in a truck, our mind paints a picture of extreme disenfranchisement. Not here. This compact residence, built inside the standard UNICAT truck, includes all essentials of a comfortable dwelling – bedroom, bathroom, office, lounge and more – perfect for the adventurous freelancer or man on the run. Of couse, living in such a confined space calls for a good organizing plan, so the space is fitted with generous storage. Check out the space-saving ideas this incredible mobile home offers. (click on the above URL link)

Skies Miltonia 1br review

2012 oct 10 Skies Miltonia, a recently launched project near the Orchid Country Club in Yishun, sold over 60% as of last Friday. Totalling 420 units, only 78 are one bedroom units, ranging 484-624sf. Let's take a look at the 484sf layout. Generally a very decent layout, with potential use of the AC ledge as laundry 'yard' area. Looks like the kitchen may potentially be enclosed as well if you fix up a partition/door. Living, dining and bedroom all decently spacious, with added incentive of natural ventilation for the toilet. Not sure if you are able to have the bedroom door inside so toilet can be accessed by guests without entering your bedroom. From the floor plan looks like there are two doors - both inside and outside, quite rare. However, from the site plan, it appears all the one bedroom stacks are facing the back of the site, where there is no view of the reservoir plus future blockage potential. This is not unusual, for any full condo project, usually the ...

388sf 2br!

2012 oct 7 Amazing to fit 2 bedrooms into 388sf! I would hesitate to place this under 'best shoebox layouts' though...

Encounters of the Tenant Kind

2012 oct 4 Property Ramblings Part VIII: Encounters of the Tenant Kind As landlords and agents, you may bump into some rare tenant types where immediately you wonder whether you are on the right planet at the time. Here I've listed out 10 major types, if you have met one type not even on this list, quick go and buy TOTO. (you are really lucky) 1. The good Always professional and polite in communication. Always uses 'please' and 'thank you'. Always smiles and never frowns. Always pays on time. Always agree to allow you to show the place to potential buyers. Always settles all problems and maintenance by themselves. Boy, this almost sounds as rare as a tortoise with 3 heads. 2. The slut Same as the above, but always add a wink and nudge and a pinch to your butt cheek while at it. Never fails to share with you their schedules, what they like, what they don't like, their favorite positions (in bed), how well traveled they are (slept with folks from many...

Buyers of shoebox units may be hit with a double whammy, warns Savills

2012 oct 3 From sbr (Singapore Business Review): Buyers of shoebox units may be hit with a double whammy, warns Savills Here's how government's new move to curb shoebox apartment impacts the market. The government has unveiled a new policy to curb the increasing number of shoebox apartment units. On 4 September 2012, the URA announced its guidelines on the maximum number of units that will be allowed for all new developments in the OCR. This is derived from a formula that is based on a prescribed average unit size of 70 sq m. In the more congested areas like Telok Kurau, Kovan, Joo Chiat and Jalan Eunos, the prescribed average unit size is 100 sq m. Savills Consultancy & Research warns that the new policy will hit both developers and purchasers. Here's from Savills: Many welcomed the changes, as the supply of shoe box units – typically below 50 sq m – was expected to rise five-fold to 11,000 units by the end of 2015. The shoebox units have artificially push...

Wiki - shoebox style

2012 oct 1 From wiki: Shoebox style (architecture) From Wikipedia, the free encyclopedia In architecture, shoebox style refers to the functionalist style of modern architecture characterised by predominantly rectilinear, orthogonal shapes, with regular horizontal rows of windows or glass walls. A dingbat apartment in southern California Along the same analogy, it refers to undistinguished styles of apartment houses, such as dingbat apartments. The puritan and repetitive shoebox style is seen as a way to low-cost construction. The term "shoebox style" is also applies to concert halls of rectangular shape, as opposed to the traditional circular amphitheatre/arena/horseshoe shapes. --- However, it is noted that 'shoebox' in Singapore context does not refer to architecture. Rather, it refers to how small an apartment can be. These are also called 'Mickey Mouse' apartments for obvious reasons. Then there are also 'container' houses (think Th...