Buyers shift focus to shoebox units: DTZ
Aug 27, 2013 - PropertyGuru.com.sg
Buyers are being drawn to more affordable and
smaller units following the government's latest
property cooling measures and stricter loan rules,
according to a report from DTZ. During the second quarter, 2,571 buyers (38
percent) opted to buy homes below S$1 million,
higher than the 1,835 buyers (31 percent) in the
previous quarter. Purchases between S$1 million
to S$1.5 million also increased to 33 percent or
2,265 units in Q2. In contrast, sales of homes prices from S$1.5
million to S$2 million fell to just 12 percent in Q2,
while purchases between S$2 million to S$3
million slipped to nine percent. "The sharp increase in purchases of units costing
below S$1 million was largely due to the sale of
shoebox units (defined as units below 500 sq ft in
size) within this price band. The proportion of
shoebox unit purchases within this price band
rose from 17 percent in Q1 to 29 percen
A neutral, non-biased repository of useful information on shoebox (small format or mickey mouse) homes in Singapore (and sometimes around the world). Tracking the Singapore small format homes market since 2009.