[SINGAPORE] At least 8,700 shoebox
units are expected to hit the resale
market between now and 2017, as the
Seller's Stamp Duty (SSD) lock-in period
approaches expiry. While this figure is
more than double the current completed shoebox residential stock of 3,472 units,
signs in the market suggest that demand
for such resale units remains relatively
resilient amid a slow-moving overall
resale market. This figure, revealed in the latest report
from the Singapore Real Estate
Exchange (SRX), is predicated on a first
wave of at least 805 resale units -
comprising units bought between Aug 30,
2010 and Jan 13, 2011 - and a second wave of at least 7,910 units entering the
market from 2015 to 2017. It also assumed that the first wave of
units would be sold in the fourth year of
acquisition, which attracts a 4 per cent
SSD. This is a reasonable assumption given
that these units have, on average,
achieved capital gains of around 30 per
cent over the three-year SSD lock-in...