Property analysts expect rentals of shoebox apartments to fall by five to ten percent in the coming years, on the back of an expected increase in supply, reported the media.
Notably, around 6,200 shoebox units are slated to be completed over the next two years. This is a record number compared to the yearly average of 3,000 units during the last decade, said property consultant SLP International.
SLP noted shoebox units located near MRT stations or within the city centre would enjoy better rentals compared to others.
“Those shoebox developments that are located away from the city or MRT stations, I think they will not be doing very well in terms of their rental demand,” said Nicholas Mak, Executive Director of research & consultancy at SLP International.
“And furthermore, if they are located within the suburban areas where typically family units are in more demand, such developments may actually languish in the rental market,” he added.
Shoebox units are generally small apartments with a space of less than 50 sq m.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories
Now that I have moved into yet another spanking new shoebox apartment, decorating and fixing stuff up from scratch, let me share some tips on living up the space to the fullest. 1. Go multi-purpose, multi-function Where space comes at a premium, every inch counts. You want to buy stuff that can perform dual, triple or more roles. Ikea has a lot of ready to use examples. Daybed - sofa, bed, storage rolled into one. Side table with storage. Removable cover is also a serving tray. Pot holder, doubles up as table cloth. Chopping board, doubles up as placemats. Multi-cooker, steam, boil, cook rice at one go. Available in qoo10. Multi-function scissor - knife, scissors, can opener 2. Make use of vertical space Hangs over doors Fix a drop leaf table to the wall. Mount two heavy duty hooks onto the wall on either side of the table to hang up both folding chairs when not in use. 3. Foldable, stackable, nestable pieces save
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