More hdb dwellers buying shoebox homes

By Melissa Tan

More Housing Board (HDB) flat dwellers buying private homes are opting for shoebox units, likely as investments, according to a report by consultancy DTZ on Wednesday.

A record 13.3 per cent of all private home purchases by people with HDB addresses last year were for shoebox units, which are homes of 500 sq ft or less.

These transactions were mainly at projects such as Bartley Ridge at Mount Vernon Road, J Gateway in Jurong East and D'Nest in Pasir Ris, the consultancy said.

"Given that most HDB flats are larger than 500 sq ft, these shoebox purchases by HDB addressees are not likely to have been purchased by HDB upgraders looking at owner-occupation and are more likely for investment," DTZ said.

http://www.straitstimes.com/breaking-news/money/story/more-hdb-dwellers-buying-shoebox-homes-dtz-20140226

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