2011 nov 24
http://www.property-report.com/shoebox-apartments-continue-to-grow-in-popularity-17626
Shoebox apartments first arrived on the Singaporean property scene in 2009 and have been popular sellers ever since. In 2010 1,999 shoebox units were sold compared to 1,841 in the first 3 quarters of 2011.
The second quarter of 2011 witnessed a record high of 880 shoebox apartments sold. The third quarter slipped to 440 units sold but this is down to fewer project launches and an economic downturn.
In the first 3 quarters of 2011 Spottiswoode 18, Skysuites@Anson and The Interweave accounted for the largest primary sales of shoebox units, whereas Alexis, The Clift and Prestige Heights chalked up the largest sub-sale of shoebox units.
The outlook for the first half of 2012 looks promising for shoebox units. Homebuyers who are waiting to see what will happen with the economic downturn could potentially jump at the chance to make a residential purchase in 2012. Potential homebuyers are unlikely to buy from the sub-sale market of 2011 due to property owners paying a stamp duty ranging from 8 per cent to 16 per cent of the selling price. A better option would be interested buyers of shoebox apartments looking at sub-sales from 2009 or 2010.
http://www.property-report.com/shoebox-apartments-continue-to-grow-in-popularity-17626
Shoebox apartments first arrived on the Singaporean property scene in 2009 and have been popular sellers ever since. In 2010 1,999 shoebox units were sold compared to 1,841 in the first 3 quarters of 2011.
The second quarter of 2011 witnessed a record high of 880 shoebox apartments sold. The third quarter slipped to 440 units sold but this is down to fewer project launches and an economic downturn.
In the first 3 quarters of 2011 Spottiswoode 18, Skysuites@Anson and The Interweave accounted for the largest primary sales of shoebox units, whereas Alexis, The Clift and Prestige Heights chalked up the largest sub-sale of shoebox units.
The outlook for the first half of 2012 looks promising for shoebox units. Homebuyers who are waiting to see what will happen with the economic downturn could potentially jump at the chance to make a residential purchase in 2012. Potential homebuyers are unlikely to buy from the sub-sale market of 2011 due to property owners paying a stamp duty ranging from 8 per cent to 16 per cent of the selling price. A better option would be interested buyers of shoebox apartments looking at sub-sales from 2009 or 2010.
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