View Full Version : CapitaLand CEO Calls Shoebox Apartments Inhuman
CapitaLand CEO Calls Shoebox Apartments Inhuman: Southeast Asia
By Pooja Thakur and Haslinda Amin - 2012-05-23T16:00:01Z
Singapore should curb the increasing trend of so-called shoebox apartments because they are “almost inhuman,” CapitaLand Ltd. (CAPL) Chief Executive Officer Liew Mun Leong said.
The government last week said it’s concerned that shoebox apartments are mushrooming in the city-state as private home sales surged to a three-year high with record purchases of units that are smaller than 50 square meters (538 square feet).
“I am dead against shoebox developments,” Liew said in an interview at the downtown Singapore headquarters of Southeast Asia’s biggest developer. “The government should intervene. Singapore’s land is very precious and you are wasting your scarce resources” by building shoebox apartments.
The island-state’s population growth, scarce land and surging property values have prompted developers to shrink apartment space. Home prices surged to a record at the end of 2011 in a city that’s about half the size of Los Angeles.
The government may introduce measures to regulate the sale of shoebox apartments after a record number were sold in the first quarter, Khaw Boon Wan, Singapore’s National Development minister, said in Parliament on May 14.
Developers sold 1,764 shoebox units in the first quarter, or 27 percent of all home sales, the most since the Urban Redevelopment Authority began collating the data in 2007. Apartments that cost less than S$750,000 ($587,000) made up 42 percent of new home sales in the first quarter, up from 25 percent in the previous three months, the data showed.
‘Almost Inhuman’
“It’s almost inhuman, it’s not good for the welfare of the family to feel that constrained,” said Liew, 65, who grew up in a one-bedroom apartment with nine people and often slept along the corridor.
At CapitaLand’s latest project, the 509-unit apartment in a central Singapore suburb designed by architect Moshe Safdie, the smallest homes are one-bedroom units measuring 710 square feet. Liew said Singapore should impose a minimum size for homes.
Singapore developers built smaller apartments in the first quarter, with median size of homes shrinking 24 percent to 667 square feet, according to CBRE Group Inc. Median prices for the period slid 18 percent to S$786,340, it said.
The government has been attempting to rein in prices since 2009 when it barred interest-only loans for some projects and stopped allowing developers to absorb interest payments for apartments still being built. In December, it imposed additional taxes of as much as 10 percent on home purchases.
CapitaLand shares have risen 11 percent since the start of the year, twice the 5.1 percent gain in the Singapore benchmark Straits Times Index. (FSSTI)
Suburban Demand
Government controls haven’t slowed housing transactions in Singapore, driven by suburban projects, Liew said. He reiterated the company’s aim to sell as many as 1,000 homes annually over the next two to three years.
“We don’t think we have an issue with” the target, he said. “If you’re aiming for the high-end, central core areas like Orchard Road, the numbers will not be so optimistic. If you’re selling to the mass market, then the demand is still there.”
The next set of curbs may be targeted at the smaller apartments, said Wilson Liew, Singapore-based analyst at Maybank Kim Eng Holdings Ltd.
“The Singapore government will first address the ‘shoebox unit’ phenomenon,” he said. “More measures are on the way.”
Singapore may limit the number of shoebox units to 10 percent of each development, especially for projects in the suburbs, he said. The government could also set the minimum size for apartments at 50 square meters to ensure the quality of life isn’t compromised, the analyst said.
Not Unique
The trend of shoebox units may not be unique to the city- state, said Pratik Burman Ray, an analyst at HSBC Holdings Plc in Singapore. Philippine developers have built homes smaller than 20 square meters, while those in Thailand and Indonesia are less than 35 square meters, he said. In Hong Kong, apartments smaller than 500 square feet house two or three people, he said.
“I wonder if this phenomenon is Singapore specific or a shift in buyer preference, and then the question is should it be regulated at all,” Ray said. “What’s needed is greater transparency to protect home buyers, which is perhaps more critical.”
Developers will be required to provide more information including floor plans that reflect the actual size of the apartments, Khaw said. Model homes should also depict the units “accurately,” he said, adding that the changes will be introduced in the second half when the law is passed.
CapitaLand is lobbying against the shoebox units, said Liew, citing a recent visit to a 400-square-foot unit in Hong Kong.
“I used to joke that when I sat on the sofa, I don’t need the remote control to switch on the TV, I use my toes,” he said. “If you build 200 square feet, 300 square feet for a family of two or three, you might as well stay in a box. There needs to be some degree of comfort level.”
http://www.bloomberg.com/news/2012-05-23/capitaland-ceo-calls-shoebox-apartments-inhuman-southeast-asia.html
i think $1700psf for suburban apartment is also inhuman.
ikan bilis
24-05-12, 09:43
*deleted... same repeated post ...
i think $1700psf for suburban apartment is also inhuman.
SUPER SUPER SUPER LIKE
“I used to joke that when I sat
on the sofa, I don’t need the
remote control to switch on
the TV, I use my toes,” he
said.
HOW DARE HE COPY WHAT I SAID!!!! He must be trolling this forum. Watch out...
Shoebox reminded him of his childhood. I think MM shd b banned :p
MR LIEW motivations are obvious - to cut off the smaller MM builder competitors who steadily eating his pie causing his DLeedon and Sky Habitat problems in selling out...:confused:
“I used to joke that when I sat
on the sofa, I don’t need the
remote control to switch on
the TV, I use my toes,” he
said.
HOW DARE HE COPY WHAT I SAID!!!! He must be trolling this forum. Watch out...
mebbe he will publish it in his next book....better claim copyright !!!!
thomastansb
24-05-12, 10:28
What is new? As usual, Government not taking proactive steps. Why did the Government allow 9,000 showbox units to be built, before they warn people that such units are not tested????? If they are so concerned, they shouldn't have approved the plan.
i think $1700psf for suburban apartment is also inhuman.
bishan is under Central Region..
mebbe he will publish it in his next book....better claim copyright !!!!
Ya man. I also said just stretch out my arm can turn on the lights liao. Lets see if he write that in the book!!!!
rattydrama
24-05-12, 10:34
Let see how much he is going to bid for the Jurong East Plot...no more bullet liao?
Having said that, i do agree shoebox is too small for a family. A couple at max max. No no if got kids etc. 200-300sf only fit for one max max.
Developers who build all MMs in a project are really unscrupulous!
I actually feel very comfortable living in a small space....I wonder why Mr Liew thinks that I will be very comfortable in a large one.
Also, I actually never quite understand statements such as "Singapore’s land is very precious and you are wasting your scarce resources” by building shoebox apartments." ? ........so how does a MM waste scarce resources again?
A MM is considered to be anything below 538 sq.m. Is this strata area they are referring to? Including the balcony and a/d ledge, etc, right? So if 540sq.m. it is not an MM any more?
Developers who build all MMs in a project are really unscrupulous!
Maximize profits without consideration for quality of living lor. But hotels also same right? Yet they pride on being very hospitable? So its all the mindset. If you bought MM developments with a mentality that its just a cheaper version of hotel without the service etc than it should be all right Isnt it.
I actually feel very comfortable living in a small space....I wonder why Mr Liew thinks that I will be very comfortable in a large one.
Also, I actually never quite understand statements such as "Singapore’s land is very precious and you are wasting your scarce resources” by building shoebox apartments." ? ........so how does a MM waste scarce resources again?
A MM is considered to be anything below 538 sq.m. Is this strata area they are referring to? Including the balcony and a/d ledge, etc, right? So if 540sq.m. it is not an MM any more?
are you referring to yourself alone or family? a single person living in a 500sqft unit is alright, if not more than sufficient. for a family with 1-2 kids, it's 'almost inhuman'.
To a developer, building MMs, that sells at ridiculously high psf, is more profitable than large units (for obvious reasons). If we take into account the dire need to increase fertility rate, then building MMs ain't helping.
are you referring to yourself alone or family? a single person living in a 500sqft unit is alright, if not more than sufficient. for a family with 1-2 kids, it's 'almost inhuman'.
To a developer, building MMs, that sells at ridiculously high psf, is more profitable than large units (for obvious reasons). If we take into account the dire need to increase fertility rate, then building MMs ain't helping.
I think the singles who have the option to move out on their own is also good since the relationships may get sour if continue to cramp in a otherwise overly crowded home. Its also good in a way for the single to grow up and mature faster thereby increase likelihood of finding a partner to marry and have babies sooner. So i dont see why MM as an option is socially detrimental.
I think the singles who have the option to move out on their own is also good since the relationships may get sour if continue to cramp in a otherwise overly crowded home. Its also good in a way for the single to grow up and mature faster thereby increase likelihood of finding a partner to marry and have babies sooner. So i dont see why MM as an option is socially detrimental.
imagine having 2 kids in an MM? that would be as what you have described, cramping in a crowded home.
Regulators
24-05-12, 11:01
I am not defending shoebox but what talking liew? If he talk about land scarce singapore, shouldn't units be smaller instead of bigger? Also these shoebox units are not meant for families, maybe just for singles or couples. Some people might think 7xxsft one bedr is waste of space coz this size could actually have two rooms instead of just one. Some ppl might not even want that extra space to clean and maintain. Mickey mouse lovers won't see eye to eye with his comments.
If starta land can be regulated for landed property, then I'm not surprise if they also come out with min sqm for those smallest unit. Then in future, those who buy those earlier smaller mm will have problem selling as ppl will have more choices... Just my view...
Maximize profits without consideration for quality of living lor. But hotels also same right? Yet they pride on being very hospitable? So its all the mindset. If you bought MM developments with a mentality that its just a cheaper version of hotel without the service etc than it should be all right Isnt it.
Hotel is for staying. MMs is for living.. hehe.
ikan bilis
24-05-12, 11:16
bros... cool down lah...
that one is big boss,... and from big-developer/govt/city-planner point of view...
mm for 2 persons, 35sqm for 2 or 17.5 sqm/person
2bdr for 4 persons, 60sqm for 4 or 15 sqm/person
3bdr for 6 persons, 77sqm for 6 or 12.8 sqm/person
77sqm based on belysa 3bdr, all can fit in double bed..
is quite "right" to say mm wasting precious land... :D
I am not defending shoebox but what talking liew? If he talk about land scarce singapore, shouldn't units be smaller instead of bigger? Also these shoebox units are not meant for families, maybe just for singles or couples. Some people might think 7xxsft one bedr is waste of space coz this size could actually have two rooms instead of just one. Some ppl might not even want that extra space to clean and maintain. Mickey mouse lovers won't see eye to eye with his comments.
let's see if capland can resist the temptation to build MMs in any of their developments
I actually feel very comfortable living in a small space....I wonder why Mr Liew thinks that I will be very comfortable in a large one.
for me minimum is 2 bedder, with rooms that fit queen size bed. Rooms that can only fit twin beds should be classified as +1 instead of bedroom.
actually having a newborn in an MM is ideal.
Boil water, make milk and run to a crying baby all just a hop or skip.
Afterall a new-born can't tell the difference between a 70sf room or one that is 300sf.
imagine having 2 kids in an MM? that would be as what you have described, cramping in a crowded home.
actually having a newborn in an MM is ideal.
Boil water, make milk and run to a crying baby all just a hop or skip.
Afterall a new-born can't tell the difference between a 70sf room or one that is 300sf.
try imaging having 2 five-year olds in a MM?
Regulators
24-05-12, 11:32
Actually liew is damn stupid, he is in the business of building homes, by saying that, he is cutting himself off one segment of the lucrative market. Also, if investors can get a 4xxsqft one bedr and rent for $3k a month, why would they want to buy a 7xxsft unit that fetch the same rental rate and pay a couple of hundred thousand more?
let's see if capland can resist the temptation to build MMs in any of their developments
try imaging having 2 five-year olds in a MM?
Agree. Its hard to time the market that when your kids are grown, you sure the MM can sell without loss plus able to buy new bigger unit without forking out extra?
time to upgrade when the child says "daddy, why i can see you where ever I am!"...
try imaging having 2 five-year olds in a MM?
Actually liew is damn stupid, he is in the business of building homes, by saying that, he is cutting himself off one segment of the lucrative market. Also, if investors can get a 4xxsqft one bedr and rent for $3k a month, why would they want to buy a 7xxsft unit that fetch the same rental rate and pay a couple of hundred thousand more?
He cant answer your question. Thats precisely why he resort to pseudo for the people kinda statement to kill off his competitors... Buyers of which have 700k rather buy 2br MM than his project 1bedder unit... I wonder if he has fallen behind times in the latest space saving design trends. Maybe he and Koh Bros need to have coffee...
bros... cool down lah...
that one is big boss,... and from big-developer/govt/city-planner point of view...
mm for 2 persons, 35sqm for 2 or 17.5 sqm/person
2bdr for 4 persons, 60sqm for 4 or 15 sqm/person
3bdr for 6 persons, 77sqm for 6 or 12.8 sqm/person
77sqm based on belysa 3bdr, all can fit in double bed..
is quite "right" to say mm wasting precious land... :D
I heard some pioneer mention need for new measurement - psfpp. Per square feet per person. But most areas are for mixed and shared use. You cant say this corner is mine and that section is yours. So bigger space to share is better for everybirdy. Yes you can even have birds as pets. But then again 2 persons sharing 500sf vs 5 persons sharing is very different experience... And then if 2 are working most times of the day then its another matter altogether. So its hard to just wave a stick and say xx is too small for a family to stay in...
are you referring to yourself alone or family? a single person living in a 500sqft unit is alright, if not more than sufficient. for a family with 1-2 kids, it's 'almost inhuman'.
To a developer, building MMs, that sells at ridiculously high psf, is more profitable than large units (for obvious reasons). If we take into account the dire need to increase fertility rate, then building MMs ain't helping.
I am livong alone actually. Great, I am human after all.
I feel however that typing a discussion of the dire fertility rate and the appearance of MMs is a very far fetched though. Actually, I have no problem with my fertility. :) :) When it is time, when the babies, I will move on to a larger place. In the meantime, a MM is great for me and I am asking the govt not too plan too much of my future for me.
I also actually suspect his intentions are well meaning. Ie warning us shoebox clampdown measure is coming soon. Esp the MP recently quickly buy up one first to keep further strengthens this possibility... Btw. Today is Thursday. And the article came out yesterday. And this weekend is Polling Day for a local elections that have become a Nationalised affair with war of words etc. So lets look out for this fateful Thursday... Which is Today. :*
I am not defending shoebox but what talking liew? If he talk about land scarce singapore, shouldn't units be smaller instead of bigger? Also these shoebox units are not meant for families, maybe just for singles or couples. Some people might think 7xxsft one bedr is waste of space coz this size could actually have two rooms instead of just one. Some ppl might not even want that extra space to clean and maintain. Mickey mouse lovers won't see eye to eye with his comments.
Excatly my thoughts too........
I am livong alone actually. Great, I am human after all.
I feel however that typing a discussion of the dire fertility rate and the appearance of MMs is a very far fetched though. Actually, I have no problem with my fertility. :) :) When it is time, when the babies, I will move on to a larger place. In the meantime, a MM is great for me and I am asking the govt not too plan too much of my future for me.
Bro DLiauw, which MM in Balestier you staying? Is it new? There is quite a few projects i think are nice. Like Tier. M21. Medge. Mezzo. Domus...
Bro DLiauw, which MM in Balestier you staying? Is it new? There is quite a few projects i think are nice. Like Tier. M21. Medge. Mezzo. Domus...
Hopefully, in two years, at the Cradels @Lorong Limau. Currently, stuck in another property nearby that does not suit my lifestyle at all (see private message).
phantom_opera
24-05-12, 12:46
"The man just doesn't get it" or he just pretentious
Don't tell me he does not understand quantum theory as put forward by brother dtrax ... it is the quantum not the size that matters
D Leedon minimum quantum is 1 million
SH min quantum is 1.1 million
Interlace even higher
In this kind of uncertain time, who will want to take big risk by investing all cash into properties?? If you have 1 million cash, here is probably your asset allocation:
1. One MM 400sqft for self-stay (250k)
2. One MM to rent out (250k)
3. Rent out your 5r HDB to pay for MMs loans
4. 30% in 5y corporate bond or preference shares which yield 4%
5. 20% in cash for emergency or buying blue chip stocks when bargain arise
If I buy something @ 1million, then I either must use up more emergency cash or allocate less for bonds and I can only afford one investment property... much higher risk and less flexible .. two MMs also I can sell off one by one if market ready gone crazy
I am livong alone actually. Great, I am human after all.
I feel however that typing a discussion of the dire fertility rate and the appearance of MMs is a very far fetched though. Actually, I have no problem with my fertility. :) :) When it is time, when the babies, I will move on to a larger place. In the meantime, a MM is great for me and I am asking the govt not too plan too much of my future for me.
agree with you on this. however, goverment's policies are tweaked towards pro-family (and all sorts of other social engineering measures)
Size is all 'bout relativity
Suffice it be with a l'il creativity
Room for sane depends on patterns of activity
Boon or bane a matter of perceptivity
agree with you on this. however, goverment's policies are tweaked towards pro-family (and all sorts of other social engineering measures)
Isnt it sad that the root word of policy is politics.
Politics beget Policies
Policies enshroud Fallacies
Fallacies deride Prophecies, and
Prophecies destroy Fantasies
“I used to joke that when I sat
on the sofa, I don’t need the
remote control to switch on
the TV, I use my toes,” he
said.
HOW DARE HE COPY WHAT I SAID!!!! He must be trolling this forum. Watch out...
Ya, I remember I read your joke somewhere in this forum. Sue him for copyright, hehe:D
Only singles age 35 n above can buy 1 bedder pte MM in future.
I actually feel very comfortable living in a small space....I wonder why Mr Liew thinks that I will be very comfortable in a large one.
Also, I actually never quite understand statements such as "Singapore’s land is very precious and you are wasting your scarce resources” by building shoebox apartments." ? ........so how does a MM waste scarce resources again?
A MM is considered to be anything below 538 sq.m. Is this strata area they are referring to? Including the balcony and a/d ledge, etc, right? So if 540sq.m. it is not an MM any more?
Aiya, since S'pore land is so precious, we should build more mm but maybe not so small like a dog cage lor. No point having such a big space where some of the spaces will go to waste. This is then a waste of space.:tongue3:
rattydrama
24-05-12, 13:36
Size is all 'bout relativity
Suffice it be with a l'il creativity
Room for sane depends on patterns of activity
Boon or bane a matter of perceptivity
and 4xxsqft is not insanity.;)
I am livong alone actually. Great, I am human after all.
I feel however that typing a discussion of the dire fertility rate and the appearance of MMs is a very far fetched though. Actually, I have no problem with my fertility. :) :) When it is time, when the babies, I will move on to a larger place. In the meantime, a MM is great for me and I am asking the govt not too plan too much of my future for me.
Once a foreigner told me when I went for my holiday. She said Singaporeans are spoilt child, everything has to be planned and taken care of by our govt.:ashamed1: Actually there are pro and cons.
Once a foreigner told me when I went for my holiday. She said Singaporeans are spoilt child, everything has to be planned and taken care of by our govt.:ashamed1: Actually there are always pro and cons on everything.
i believe it is the goverment that wants to control everything (check out MM's famous quotes). For one, i don't need them to help me decide how i spend my CPF :simmering:
Ya, I remember I read your joke somewhere in this forum. Sue him for copyright, hehe:D
Its post #39 in "How to stop the shoebox craze" thread by Ringo!!!! :cheers1:
Politics beget Policies
Policies enshroud Fallacies
Fallacies deride Prophecies, and
Prophecies destroy Fantasies
WOW, very deep....have to read three to four times....then it all makes sense after all. Write MORE. Put a smile one everyone's face I am sure:) :) :) (is today over yet????). Thanks.
and 4xxsqft is not insanity.;)
Thumbs up :cheers3:
i believe it is the goverment that wants to control everything (check out MM's famous quotes). For one, i don't need them to help me decide how i spend my CPF :simmering:
A lot of uncles' CPF have been drained by their foreign girlfriends. Best is dun count on ur CPF in ur retirement plan.
They sld squeeze in options within MMs - like do away with kitchen.
Just provide a counter with power point x2. Let the occupants use a kettle and portable induction to cook light meals. 300+sf also can then.
A lot of uncles' CPF have been drained by their foreign girlfriends. Best is dun count on ur CPF in ur retirement plan.
so punish the entire population cos' of a few ah peks who are in search for love (or lust?!).
if chewing gum can be banned because it caused a 10-15min delay, then surely something can be done to punish horny uncles eh? :rolleyes:
控非空
恐非孔
熔非容
笼非拢
Long form:
控制过度并非得以更多空间
恐吓政治并非孔子所教
熔化意见并非容忍态度
笼子政策并非拢断市场
rattydrama
24-05-12, 14:05
They sld squeeze in options within MMs - like do away with kitchen.
Just provide a counter with power point x2. Let the occupants use a kettle and portable induction to cook light meals. 300+sf also can then.
I think will be quite phobic and suffociating. I will not try.
so punish the entire population cos' of a few ah peks who are in search for love (or lust?!).
if chewing gum can be banned because it caused a 10-15min delay, then surely something can be done to punish horny uncles eh? :rolleyes:
谁叫我也?!?...
rattydrama
24-05-12, 14:11
"The man just doesn't get it" or he just pretentious
Capland still has few big projects using big architect names & non MM. Sales going slow... of course have to say something.
His chanting will cease if backlogs are cleared fast enough.
those developers making $ are keeping quiet. ;)
rattydrama
24-05-12, 14:14
谁叫我也?!?...yr chinese writing is better than zaobao... they should get you...
Not disputing that view...but if MM is a livestyle option and the occupiers of these don't do heavy cooking, maybe a full kitchen is not needed.
Most buyers are singles/eat out/come back only to sleep and rest.
Developers sld ask the question...are we correct in duplication of a full-space/family dewelling? Then can further reduce quantum and get more marginal investors into the market.
I think will be quite phobic and suffociating. I will not try.
phantom_opera
24-05-12, 14:21
carbuncle is our proud product of Singapore education system - dual language expert
carbuncle is our proud product of Singapore education system - dual language expert
... and gay too. :)
哪里哪里... 多多指教!
rattydrama
24-05-12, 14:27
if its 300sqft, most likely URA will reject.
http://www.asiaone.com/Business/My%2BMoney/Property/Story/A1Story20091015-173816.html
Not disputing that view...but if MM is a livestyle option and the occupiers of these don't do heavy cooking, maybe a full kitchen is not needed.
Most buyers are singles/eat out/come back only to sleep and rest.
Developers sld ask the question...are we correct in duplication of a full-space/family dewelling? Then can further reduce quantum and get more marginal investors into the market.
shoebox is not build for family in the first place..
:tsk-tsk:
yr chinese writing is better than zaobao... they should get you...
Where got... I read proper reports in china website also 一堆一堆... Lol cmi a disgrace to CL1 high school graduate students
Where got... I read proper reports in china website also 一堆一堆... Lol cmi a disgrace to CL1 high school graduate students
most china websites are flood with ton of information in the frontpage... dunno which article/links to click first also :scared-3::scared-3:
in the end, i click the chio & big breast china girl pix :D
Btw, understand that Citibank already stop financing any unit less than 500sf. Fellow MM fanboys pls take note...
If you read between the lines, it means you better faster buy before all banks stop financing MM!!!
You do sound like a happy guy...
... and gay too. :)
哪里哪里... 多多指教!
I am not defending shoebox but what talking liew? If he talk about land scarce singapore, shouldn't units be smaller instead of bigger? Also these shoebox units are not meant for families, maybe just for singles or couples. Some people might think 7xxsft one bedr is waste of space coz this size could actually have two rooms instead of just one. Some ppl might not even want that extra space to clean and maintain. Mickey mouse lovers won't see eye to eye with his comments.
he is talking about his experience growing up.
“I am dead against shoebox developments,” Liew said in an interview
‘Almost Inhuman’
“It’s almost inhuman, it’s not good for the welfare of the family to feel that constrained,” said Liew, 65, who grew up in a one-bedroom apartment with nine people and often slept along the corridor.
l (http://www.bloomberg.com/news/2012-05-23/capitaland-ceo-calls-shoebox-apartments-inhuman-southeast-asia.html)
Btw, understand that Citibank already stop financing any unit less than 500sf. Fellow MM fanboys pls take note...
If you read between the lines, it means you better faster buy before all banks stop financing MM!!!
if all banks going to stop financing MM, why rush in to buy and have a harder time to sell in future. no financing is no joke
You do sound like a happy guy...
Happy as in happy happy or gay gay... You can tell from writing if one is gay ah... Teach me leh my gaydar quite jialut
if all banks stop financing MM, why rush in to buy and have a harder time to sell in future. no financing is no joke
Big bro. You forgot properties are meant to be bought, not sold.
Btw, understand that Citibank already stop financing any unit less than 500sf. Fellow MM fanboys pls take note...
If you read between the lines, it means you better faster buy before all banks stop financing MM!!!
What happen if you want to sell later?
What happen if you want to sell later?
it will be like geylang props on the even lorong.
owners wanna sell, but no bank willing to loan.. or loan to 60% max.
unless buyers willing to down 40% or more.. before this upcycle kiasu buying spree, geylang apts/condos prices are depressing partly of this loan issue..
if no banks loan for MM, or loan the min.. see how many buyers will be keen to fork out so much more cash etc 50%..
or worse no loans, no buy, no buyers
it will be like geylang props on the even lorong.
owners wanna sell, but no bank willing to loan.. or loan to 60% max.
unless buyers willing to down 40% or more.. before this upcycle kiasu buying spree, geylang apts/condos prices are depressing partly of this loan issue..
if no banks loan for MM, or loan the min.. see how many buyers will be keen to fork out so much more cash etc 50%..
or worse no loans, no buy, no buyers
look like shoebox will lead the next minor property crash..
while the others might be a small dip
look like shoebox will lead the next minor property crash..
while the others might be a small dip
I am waiting for MM prices to drop to get into the market and I believe I am not alone.
I am waiting for MM prices to drop to get into the market and I believe I am not alone.
Whats your planned entry price?
Whats your planned entry price?
3XXK to 4XXK
Possible?
“I used to joke that when I sat
on the sofa, I don’t need the
remote control to switch on
the TV, I use my toes,” he
said.
HOW DARE HE COPY WHAT I SAID!!!! He must be trolling this forum. Watch out...
That joke is ancient..... used it myself many times before.
Sleepyhead
24-05-12, 16:54
Btw, understand that Citibank already stop financing any unit less than 500sf. Fellow MM fanboys pls take note...
If you read between the lines, it means you better faster buy before all banks stop financing MM!!!
May I know what is the logic behind not wanting to finance MM units? What is it to the bank? Are they considering MM's to be a riskier class of assets than say a 1000sqft unit? :confused: If so, why?
May I know what is the logic behind not wanting to finance MM units? What is it to the bank? Are they considering MM's to be a riskier class of assets than say a 1000sqft unit? :confused: If so, why?
I heard it from a friend who was looking out for mortgage. So did not probe. Probably hiam loan quantum too small but same effort required maybe?
3XXK to 4XXK
Possible?
Why that is already available today in some projects like 8courtyards, Parc Rosewood, Nautical, Flora drive and many in Geylang...
I heard it from a friend who was looking out for mortgage. So did not probe. Probably hiam loan quantum too small but same effort required maybe?
smallest loan i took was 200k, its a small quantum afterall..? isnt it..
phantom_opera
24-05-12, 17:54
3XXK to 4XXK
Possible?
that is price of a 3r HDB along the corridor built in 1970 now ... think hard :tongue3:
From BT Invest:
Still open to funding shoebox units: CIMB
Bank denies report that it has stopped approving loans for tiny residential units
29 Feb 2012 09:31 by CONRAD TAN
CIMB Bank has denied cutting off financing for buyers of small homes here, after a report suggested that it had stopped approving new mortgages for so-called shoebox apartments because they were too risky.
CIMB and various other banks BT spoke to said that they focus on buyers’ ability to repay their mortgage, not the size of the home, in deciding whether to approve a home loan.
“We are still approving and financing new home loans for buyers of apartments that are less than 510 square feet in size” – the measure the bank uses for shoebox apartments, a CIMB Singapore spokesman said. “The report that financing for shoebox units is no longer being offered by CIMB is incorrect.”
A report posted on an online news portal had claimed that CIMB was no longer approving loans for shoebox units.
Other banks, too, said that they continue to offer loans to buyers of very small homes.
“United Overseas Bank is still financing small apartment units, as the key consideration with any home loan application is the credit-worthiness of the potential customer,” said Chia Siew Cheng, head of secured loans at UOB’s personal financial services division. “In addition to the current property valuation, credit-worthiness is measured through income stability and credit records.”
OCBC Bank, too, is still financing purchases of shoebox apartments. “This is subject to borrowers meeting our home loan criteria, which includes the individual’s financial commitments, income, credit history and repayment ability, among others,” a bank spokesman said.
A DBS Group spokesman told BT that there had been no change to the bank’s policy for financing purchases of shoebox units. “The primary consideration when assessing such loans is the customer’s commitment and ability to manage the repayments,” a spokesman said.
A source at a foreign bank said that it wasn’t worried that the resale value of the shoebox apartments that have been launched so far would fall sharply.Another source, at a Singapore-listed bank, said that its financing of apartments smaller than 500 square feet has held steady since the start of the year. “The trend we are seeing, through the developers we work with, is that these smaller units remain popular and are usually the first to be snapped up in most newly launched projects,” the source said.“We do not assess credit based on the size of the apartments but on affordability and the repayment ability of the borrower,” said Alan Lau, head of consumer banking at Maybank Singapore.
“The risk associated with property financing is not simply a function of the size of the apartment, it’s also about the purpose of the purchase and the repayment ability of the borrower." CIMB uses a broad range of criteria to assess credit risk before deciding whether to grant a home loan, said Coreen Kwan, head of retail banking at CIMB Singapore.
“We primarily look at his Credit Bureau report, perform litigation checks and also look at his loan statements with other banks if applicable and available, and internal records if he is an existing customer.”
“We also look at his ability to repay and afford the loan. We ascertain his exposure to credit facilities and his income to cover such exposures,” she added.
“Even if a person can afford a loan, there is always a chance that he may go into default when something affecting his ability to pay happens. That is why we also ensure the loan to valuation ratio is healthy and the quality of collateral is good – that, we can determine through the valuation reports of the property.”
Condo Kaiser
24-05-12, 18:05
smallest loan i took was 200k, its a small quantum afterall..? isnt it..
Citi is not the first to stop financing unit smaller than 500 sqft. HSBC long time ago stopped.
Quantum is never the issue. I bought 5 MM units back in 2009 and want to loan with HSBC, they reject citing unclear risk profile of small units.
Basically banks also not sure whether MM price will crash and their valuation team is not able to price this asset accurately.
that is price of a 3r HDB along the corridor built in 1970 now ... think hard :tongue3:
So you believe MMs will never fall to this price?
Waiting for CM to stop MM speculators and help those who really need to buy to get at least an MM.
phantom_opera
24-05-12, 18:26
So you believe MMs will never fall to this price?
Waiting for CM to stop MM speculators and help those who really need to buy to get at least an MM.
actually CM4/5 are encouraging people to buy MMs ..why?
1. 4y SSD, this has increased the risk tremendously as once u buy a big unit with big quantum, you are stuck for 4y ... can you imagine buying any stock, when u sell in 4y you need to be taxed from 4-16% of the selling price?? As a prudent investor, if I want to allocated $$ into property, I will buy MM or 1br first with small quantum (not those Sky Habitat 700sqft that cost 1.1mio)
2. ABSD - again quantum is the #1 consideration if you get hit with ABSD
3. 60% LTV - isn't it obvious again quantum is the killing factor
It is also not true to say MM rental is untested, basically MM rental is superb in such place like Parc Imperial, Little India, D15, D14, D11 ... it is just not tested in Pasir Ris, Punggol or Hillview ... so MM close to MRT or closer to town is still kind of promising ... and we do not know how many people are buying for own stay or renting out right?
And How can MM price crashed and bigger units stay flat? Imagine if MM price crashed to 300k, 2br condo 800sqft still at 800k, then I buy 2 MMs next to each other and knock down the wall only cost 600k right?
Quote UOB Lady's card: "The men just don't get it" :p
Citi is not the first to stop financing unit smaller than 500 sqft. HSBC long time ago stopped.
Quantum is never the issue. I bought 5 MM units back in 2009 and want to loan with HSBC, they reject citing unclear risk profile of small units.
Basically banks also not sure whether MM price will crash and their valuation team is not able to price this asset accurately.
5 units!? You eligible!!!! Single?
Is there a difference in risks between a 484sqft 1bedder and a 592sqft 1 bedder?
One is MM the other is not? :beats-me-man:
Is there a difference in risks between a 484sqft 1bedder and a 592sqft 1 bedder?
One is MM the other is not? :beats-me-man:
No diff if market valuation and yield is the same.
bishan is under Central Region..
In this forum, Bishan falls under the Suburbia folder leh.. just like Sky Habitat..:beats-me-man:
MR LIEW motivations are obvious - to cut off the smaller MM builder competitors who steadily eating his pie causing his DLeedon and Sky Habitat problems in selling out...:confused:
yes obviously he's pissed at other developments selling out faster than his useless big units priced horrendously.
Agree. Its hard to time the market that when your kids are grown, you sure the MM can sell without loss plus able to buy new bigger unit without forking out extra?
Don't need to wait till the kids grow up, now some of them already cannot afford a bigger unit liao.:cool:
time to upgrade when the child says "daddy, why i can see you where ever I am!"...
Then daddy will reply, "Oh, because we are so close to each other".":D
i believe it is the goverment that wants to control everything (check out MM's famous quotes). For one, i don't need them to help me decide how i spend my CPF :simmering:
I'm not siding anyone of them but I think CPF is something like a "force saving" that might help some citizens in some way, especially those who doesn't know how to save or spend everything single cents that they have. ;)
Not disputing that view...but if MM is a livestyle option and the occupiers of these don't do heavy cooking, maybe a full kitchen is not needed.
Most buyers are singles/eat out/come back only to sleep and rest.
Developers sld ask the question...are we correct in duplication of a full-space/family dewelling? Then can further reduce quantum and get more marginal investors into the market.
Ya, in case my husband and I have a chance to stay in the MM unit, occasionally we will just cook a pot of water and throw all the ingredients inside, healthy eating, no frying, hehe.:D It is also important to have eateries around the area but not that type of food court inside the shopping mall.:)
Having said that, i do agree shoebox is too small for a family. A couple at max max. No no if got kids etc. 200-300sf only fit for one max max.
where got 200sf MM?!?!? Yes i tot shoebox is just for single. i have not tried living in one before but i think even 400sqf for 1 person is already cramped, how can it accomodate more?
5 units!? You eligible!!!! Single?
Bought somemore in 2009 - now HSBC must be kicking itself for not giving u the loan. Now the MM should be worth much more and u got 5
Quite a lot of bad news r coming out, sapping away investors' appetite for big units. I think his local projects might b in big trouble soon.
Quite a lot of bad news r coming out, sapping away investors' appetite for big units. I think his local projects might b in big trouble soon.
seriously if i can afford, i will go for older units dats usually more spacious and no bay windows, planters. ive seen new units dats supposedly 1200+ sqf and space eaten up by thhose
Allthepies
24-05-12, 20:54
i kind of agree building full mm is a bit waste of resources and increase the human density in the area which reduce the quality of life. this is especially true in suburb.
i kind of agree building full mm is a bit waste of resources and increase the human density in the area which reduce the quality of life. this is especially true in suburb.
on the assumption MM will be dwelled by singles or couple, the human density consideration shldnt be an issue
seriously if i can afford, i will go for older units dats usually more spacious and no bay windows, planters. ive seen new units dats supposedly 1200+ sqf and space eaten up by thhose
I can live with bay windows as I can place small plants plants on them. I cant live with large air-con ledges because the only things you can place on them is probably mops or small ladders.
it will be like geylang props on the even lorong.
owners wanna sell, but no bank willing to loan.. or loan to 60% max.
unless buyers willing to down 40% or more.. before this upcycle kiasu buying spree, geylang apts/condos prices are depressing partly of this loan issue..
if no banks loan for MM, or loan the min.. see how many buyers will be keen to fork out so much more cash etc 50%..
or worse no loans, no buy, no buyers
So do you mean all those who bought Geylang ppty at even lorongs all paid 100% cash or at least 40% cash. Wa, they are so rich ah!:scared-1: But from what I know, some banks can loan up to 80% for even lorongs.
If it is really that difficult for the buyers to get loan, then I wonder why developers still want to take the risk of building the ppty there.
I can live with bay windows as I can place small plants plants on them. I cant live with large air-con ledges because the only things you can place on them is probably mops or small ladders.
how abt the foldable clothes rack? My MM has quite big AC ledge :(
I can live with bay windows as I can place small plants plants on them. I cant live with large air-con ledges because the only things you can place on them is probably mops or small ladders.
i understand bay windows come in different sizes. there are some small ones that can put small stuff. the condo i was talking abt has bay windows big enough for u to sleep on. May double up as a makeshift bed but its eating up much space for those who dont make full use of it
where got 200sf MM?!?!? Yes i tot shoebox is just for single. i have not tried living in one before but i think even 400sqf for 1 person is already cramped, how can it accomodate more?
Smallest MM on record is 258sf Suites @ Guillemard. Not top yet.
Smallest MM on record is 258sf Suites @ Guillemard. Not top yet.
INHUMANE!!! its too small even for one!
Smallest MM on record is 258sf Suites @ Guillemard. Not top yet.
258sf is really too small leh.:tsk-tsk:
So do you mean all those who bought Geylang ppty at even lorongs all paid 100% cash or at least 40% cash. Wa, they are so rich ah!:scared-1: But from what I know, some banks can loan up to 80% for even lorongs.
If it is really that difficult for the buyers to get loan, then I wonder why developers still want to take the risk of building the ppty there.
1st developers will get the banks to support the loan, for new launches.
wait till you try and calling some agents, for old properties from lorong 2 to 28, 30 and ask for the loans.
new launches in even lorong, no problem becos they are tied down with developers.
old apt/ condos in even lorong, face more challenges..
1st developers will get the banks to support the loan, for new launches.
wait till you try and calling some agents, for old properties from lorong 2 to 28, 30 and ask for the loans.
new launches in even lorong, no problem becos they are tied down with developers.
old apt/ condos in even lorong, face more challenges..
Did you try before to get a loan for an older ppty in even lorongs recently? Previously Geylang ppty was not so popular but recently it seems to be getting more and more popular with so many new launches coming up.
Most of the new launches will be TOP in 2-5 yrs time, maybe by then things have changed.
Smallest MM on record is 258sf Suites @ Guillemard. Not top yet.
wa.. put 1 masterbed... can fill up liao :D
Ya man. I also said just stretch out my arm can turn on the lights liao. Lets see if he write that in the book!!!!
Arms shorter than legs... Yours more MM ..
Politics beget Policies
Policies enshroud Fallacies
Fallacies deride Prophecies, and
Prophecies destroy Fantasies
So politics destroy fantasies?
I think the singles who have the option to move out on their own is also good since the relationships may get sour if continue to cramp in a otherwise overly crowded home. Its also good in a way for the single to grow up and mature faster thereby increase likelihood of finding a partner to marry and have babies sooner. So i dont see why MM as an option is socially detrimental.
Agree. To be above 25 and still live with parents is a joke in certain other countries.
where got 200sf MM?!?!? Yes i tot shoebox is just for single. i have not tried living in one before but i think even 400sqf for 1 person is already cramped, how can it accomodate more?
400 sq ft is good for 1 person. It is also a genuine reason to give to reject people who want to stay at my place :o
400 sq ft is good for 1 person. It is also a genuine reason to give to reject people who want to stay at my place :o[/quote]
Haa. May work the other way out if you genuinely want people (e.g. ur family, partner, frenz) to stay but there isnt' any space. Anw these should be temp stay (else u shouldnt have bot MM for own stay) so can squeeze a bit for time being
rattydrama
25-05-12, 09:15
he is talking about his experience growing up. what he is experiencing is the same as some of the mm buyers' now...$ not enough.
phantom_opera
25-05-12, 09:21
why he never said foreign worker dorm is inhuman :confused:
what he is experiencing is the same as some of the mm buyers' now...$ not enough.
he lived in a one bedroom apartment with 9 others - OF COURSE CRAMPED la. why is it hard to imagine MM will be occupied by singles (one person) or 2 at most? there are so many singles in SG so wads uncommon abt that
why he never said foreign worker dorm is inhuman :confused:
because hes targeting those who can afford to buy lo, the foreign workers dont fall in the category. Like others said, hes blasting MM so potential MM buyers will go for his projects if they can afford
phantom_opera
25-05-12, 09:28
CAPL Liew: MM is inhuman
Khaw: Hougang has no UPSIDE under WP, UPSIDE UPSIDE u know
"I would like to assure Mr Gerald Giam, who might not have caught up with all the developments, that our enhanced housing grants for lower income families are such that a family with a monthly income of as low as $1,000 can now purchase a small flat," said Tharman, who added that a family that earns "a bit more, say $1,500," can afford a medium-sized flat.
Does it mean properties under PAP has more UPSIDE and those earning $1000 are given small flat that is inhuman? ;)
CAPL Liew: MM is inhuman
Khaw: Hougang has no UPSIDE under WP, UPSIDE UPSIDE u know
Does it mean properties under PAP has more UPSIDE ;)
MM here refers to Mickey Mouse or Minister Mentor?
:o
rattydrama
25-05-12, 09:40
he lived in a one bedroom apartment with 9 others - OF COURSE CRAMPED la. why is it hard to imagine MM will be occupied by singles (one person) or 2 at most? there are so many singles in SG so wads uncommon abt that
why not he reduces the price of his 3bedder and everyone will Q 3day 3nite. I guess everyone will want to stay a bigger house (not too big) given a choice at an affordable price. If its not affordable, 9 persons to a room is still considered comfortable. The last choice will be to sleep on the road. ;)
This comment is Off-side ...
MM here refers to Mickey Mouse or Minister Mentor?
:o
why not he reduces the price of his 3bedder and everyone will Q 3day 3nite. I guess everyone will want to stay a bigger house (not too big) given a choice at an affordable price. If its not affordable, 9 persons to a room is still considered comfortable. The last choice will be to sleep on the road. ;)
SUPER DUPER LIKE:cheers4:
INHUMANE!!! its too small even for one!
Spacious toilet for the uninitiated overstayer guest... With choice of luxurious bay window or floor
how abt the foldable clothes rack? My MM has quite big AC ledge :(
Dry your laundry at the compressor exhaust. Super fast and green recycling energy
Citi is not the first to stop financing unit smaller than 500 sqft. HSBC long time ago stopped.
Internal disconnect in HSBC...
"The trend of shoebox units
may not be unique to the city-
state, said Pratik Burman Ray,
an analyst at HSBC Holdings
Plc in Singapore. Philippine
developers have built homes
smaller than 20 square
meters, while those in
Thailand and Indonesia are
less than 35 square meters, he
said. In Hong Kong,
apartments smaller than 500
square feet house two or
three people, he said.
“I wonder if this phenomenon
is Singapore specific or a shift
in buyer preference, and then
the question is should it be
regulated at all,” Ray said.
“What’s needed is greater
transparency to protect home
buyers, which is perhaps more
critical.”
Sad. It is very difficult for one who has reached a stage whereby one can afford to live in a house of 20 MMs combined areas to understand why one can live in or purchase a MM. Anyway, it is not a wise move. If KBW not amused by the comment and react, CPL now cannot retract and also build MM to sell like hot cakes liao...:D
Shoeboxsupporter
25-05-12, 17:39
OkOK, then all developers start build 51 square meter apartment which will not be condemn as MM, :D
IMO, it takes both hands to clap. No demznd, there will not be more supply. Buyers are paying easily at least $200 more than a non MM unit in the same cevelopment. That is the problem.
Sad. It is very difficult for one who has reached a stage whereby one can afford to live in a house of 20 MMs combined areas to understand why one can live in or purchase a MM. Anyway, it is not a wise move. If KBW not amused by the comment and react, CPL now cannot retract and also build MM to sell like hot cakes liao...:D
IMO, it takes both hands to clap. No demznd, there will not be more supply. Buyers are paying easily at least $200 more than a non MM unit in the same cevelopment. That is the problem.
demand are built up from buyers; as investment, hedge against inflation, speculation profits, properties price higher and higher, lower quantum, make use cpf funds in exchange for rental cash etc etc.
if govt can address to these above, with a cm that kills off the interest.
where would theree be demand??
Problem with Capland is it is building and trying to sell non-MM units at MM psf.
rattydrama
25-05-12, 21:20
He shoot himself on the foot commenting ...staying in mm is "inhuman". so dont expect mm from capland in future.
aiya..market is always rite lah.
just too bad some cannot catch it right.
He shoot himself on the foot commenting ...staying in mm is "inhuman". so dont expect mm from capland in future.
aiya..market is always rite lah.
just too bad some cannot catch it right.
hes missing out on the singles market and its a sizeable one in SG
i think $1700psf for suburban apartment is also inhuman.
:D:D:D:D:D:D:D:D:D
mun mun really "bu shi ren", charge 1.7k psf for sky caitao still claim MM developer's bu shi ren? I rather pay 470k for a vibes MM condo and sell for 670k in future, die die also wun buy his caitao unit and tio stuck for 10yrs. I rather get stuck in a MM then get stuck in his sky high prices, I rather buy 2 MM units @ vibes and combine into 1 mega big 1room and still got change to buy bmw 3series and cash to travel around the world... see who more "bu shen ren"?
No one ask him bid high high and tio caitao and caitao back to locals like us.. wfwt to the max
mun mun really "bu shi ren", charge 1.7k psf for sky caitao still claim MM developer's bu shi ren? I rather pay 470k for a vibes MM condo and sell for 670k in future, die die also wun buy his caitao unit and tio stuck for 10yrs. I rather get stuck in a MM then get stuck in his sky high prices, I rather buy 2 MM units @ vibes and combine into 1 mega big 1room and still got change to buy bmw 3series and cash to travel around the world... see who more "bu shen ren"?
No one ask him bid high high and tio caitao and caitao back to locals like us.. wfwt to the max
Hmm Liew Mun Leong need to address concerns to profits and shareholders la. Don't blame him. He is doing a good job. Residential properties peanuts to him anyway.
rymccondo77
26-05-12, 12:35
Kim Eng Research has just come up with their latest research report on the Singapore property market - not surprisingly, the focus of the research is on Shoebox units.
http://www.kimengresearch.com.sg/Research.aspx
Dun say neber give good lobangs for MM wannabes... GSS lai liao.. time to get an artas hidden bed for your MM homes from ONLY $2500.. design by Italian furniture brand - the same model seen in UP@Robertson Quay
:cheers1: :cheers1:
https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash3/s720x720/550922_442517602426204_161302833881017_26341535_1486884981_n.jpg
I am not affiliated with the company but I do hope they give me commissions LOL!!
Dun say neber give good lobangs for MM wannabes... GSS lai liao.. time to get an artas hidden bed for your MM homes from ONLY $2500.. design by Italian furniture brand - the same model seen in UP@Robertson Quay
:cheers1: :cheers1:
https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash3/s720x720/550922_442517602426204_161302833881017_26341535_1486884981_n.jpg
upz so cheapo
upz so cheapo
AS IN THEY BUY A $2500 TRANSFORMABLE BED AND CHARGE $2500PSF? Reasonable leh hhahhahah
AS IN THEY BUY A $2500 TRANSFORMABLE BED AND CHARGE $2500PSF? Reasonable leh hhahhahah
oh hi dtrax so you are saying its dam wuhua. every 1 sq ft 1 dollar?
oh hi dtrax so you are saying its dam wuhua. every 1 sq ft 1 dollar?
no comments lol
oh hi dtrax so you are saying its dam wuhua. every 1 sq ft 1 dollar?
Of course wuhua, they make your sqft for the bed double leh!
In normal condo, you need space for the bed and study table, now they make until u only need bed space, effectively the sqft double for the bed area.
Its just like those loft units where they make u pay for the air space. haha!
DKSG
this is one of the latest MM properties in HK, sold out in a day
126 sq ft, u can watch the video to understand the size of a true MM.
U can only have a sofa bed, use as sofa in the day and bed in the nite.
The efficiency ratio is 65%.
So, our MM in Sg is considered as luxury in HK.
http://cablenews.i-cable.com/webapps/program_video/index.php?video_id=12127146
TheOnlyGayInTheVillage
27-05-12, 09:44
this is one of the latest MM properties in HK, sold out in a day
126 sq ft, u can watch the video to understand the size of a true MM.
U can only have a sofa bed, use as sofa in the day and bed in the nite.
The efficiency ratio is 65%.
So, our MM in Sg is considered as luxury in HK.
http://cablenews.i-cable.com/webapps/program_video/index.php?video_id=12127146
Your gal sent you this huh... Anyway unit size is 361sf but minus those balcony planter etc is 128sf la.
Your gal sent you this huh... Anyway unit size is 361sf but minus those balcony planter etc is 128sf la.
No lah! My girl is now at South China Sea for fishing..
Oops, so I got the efficiency index the other way round. should be 128/361
this is one of the latest MM properties in HK, sold out in a day
126 sq ft, u can watch the video to understand the size of a true MM.
U can only have a sofa bed, use as sofa in the day and bed in the nite.
The efficiency ratio is 65%.
So, our MM in Sg is considered as luxury in HK.
http://cablenews.i-cable.com/webapps/program_video/index.php?video_id=12127146
omg :scared-4::scared-4:
this is even more 'inhuman'!!
Beside easy maintenance for MM, it can also help to save electricity (air-cond). Turn on 1 unit of the air-cond and the whole house will be cool.:D
ikan bilis
27-05-12, 10:10
this is one of the latest MM properties in HK, sold out in a day
126 sq ft, u can watch the video to understand the size of a true MM.
U can only have a sofa bed, use as sofa in the day and bed in the nite.
The efficiency ratio is 65%.
So, our MM in Sg is considered as luxury in HK.
http://cablenews.i-cable.com/webapps/program_video/index.php?video_id=12127146
Wah-lah !... this project by 信和置业 ??... far-east's sister company in HK ??.. :scared-4:
phantom_opera
27-05-12, 11:53
mm not yet accepted as new paradigm in sg but long accepted in hk, so not at peak of hype cycle
mm not yet accepted as new paradigm in sg but long accepted in hk, so not at peak of hype cycle
when I'm in hk, bought a renovation magazine feature on hk apartment, from 180sqft onwards.
hk do not have hdb, with plenty of mountainous hills and seas not enuff buildup land and 7mio population. so many have to squeeze into MM for own stay.
singaporeans are blessed with the basic housing, hdb.
MM still not favorable as own stay but rather investment gains, or rental in sgp
phantom_opera
27-05-12, 12:36
when I'm in hk, bought a renovation magazine feature on hk apartment, from 180sqft onwards.
hk do not have hdb, with plenty of mountainous hills and seas not enuff buildup land and 7mio population. so many have to squeeze into MM for own stay.
singaporeans are blessed with the basic housing, hdb.
MM still not favorable as own stay but rather investment gains, or rental in sgp
500sqft efficient layout is actually very livable for 2 adults one baby or kid, it is a lifestyle choice, I rather stay in 400sqft near millennia walk than 1000sqft in pasir ris, if u have no maid no car, choice of eating nearby is very important, tiny kitchen for occasional noodle is enough
mm not yet accepted as new paradigm in sg but long accepted in hk, so not at peak of hype cycle
even underground caged bunk bed are accepted in hk. so sgp going along this way too?? mm accepted as new paradigm, and caged bunkbed.?
if they are spoilt for choices, between mm or hdb. what says them?
phantom_opera
27-05-12, 13:50
even underground caged bunk bed are accepted in hk. so sgp going along this way too?? mm accepted as new paradigm, and caged bunkbed.?
if they are spoilt for choices, between mm or hdb. what says them?
Hdb and mm same price at same location? Pinnacle duxton hdb easily 1m, hdb at pasir ris 500k, MM at rcr 700k which would u choose for a small family of 1 kid? It is a matter if choice as u can also rent out hdb and stay in MM, nothing wrong, feo soho or up@ribertson gives u another choice, I am spoilt for choice
even underground caged bunk bed are accepted in hk. so sgp going along this way too?? mm accepted as new paradigm, and caged bunkbed.?
if they are spoilt for choices, between mm or hdb. what says them?
inhuman in HK :doh::doh:
phantom_opera
27-05-12, 14:01
Have u been to basement if raffles shopping center or tampines mall, super inhuman by any standard, soon bomb shelter rental will be normal lol
inhuman in HK :doh::doh:
even hk roadside open spaced pavements are damn cramped. while my frds are buying some drinks, standing along the pavement also kena rubbed by 2way human traffic..
hk do not have a choice, unlike sgp.
TheOnlyGayInTheVillage
27-05-12, 18:32
Wah-lah !... this project by 信和置业 ??... far-east's sister company in HK ??.. :scared-4:
FEO sister ok... as long as not CRAPLAND sister!!!!!! :simmering: :simmering: :simmering: :hell-hath-no-fury:
No chance for MM to survive in Malaysia.
Landed Semi-D is less than RM 1M, who wants to buy MM?
In HK, MM is now easily more than S$1M, young professionals cannot even afford MM.
So the root cause is still some over paid executives are over estimating the purchasing power of their customers.
Who wants to buy/rent a MM when they can comfortably afford a 3 bedder?
Thanks,
Richard
PS. Singapore will never be like HK because people are already starting to move north. When Thomson Line is up, you will see the trend to accelerate.
Maybe in future, they can make capsule with straps and wahla .. a vertical bed. Even more space savings...
Beside easy maintenance for MM, it can also help to save electricity (air-cond). Turn on 1 unit of the air-cond and the whole house will be cool.:D
phantom_opera
28-05-12, 10:06
No chance for MM to survive in Malaysia.
Landed Semi-D is less than RM 1M, who wants to buy MM?
In HK, MM is now easily more than S$1M, young professionals cannot even afford MM.
So the root cause is still some over paid executives are over estimating the purchasing power of their customers.
Who wants to buy/rent a MM when they can comfortably afford a 3 bedder?
Thanks,
Richard
PS. Singapore will never be like HK because people are already starting to move north. When Thomson Line is up, you will see the trend to accelerate.
Only if MRT straight through into Iskandar .. otherwise JB property will be forever 10% of Singapore i.e. 1000psf vs 100psf
No chance for MM to survive in Malaysia.
PS. Singapore will never be like HK because people are already starting to move north. When Thomson Line is up, you will see the trend to accelerate.
I think MM has a very good potential in prime area like KLCC. Currently, there are many branded names there selling service apartment in that size. In the past, developers built very big units and resulting in over supply of big units, and shortage of small units for single.
Singaporeans still like HK especially in the field of Investment banking, so many young and talented Singaporeans there.
phantom_opera
28-05-12, 11:16
http://designheaven.files.wordpress.com/2010/04/at-little-match-up.jpg
http://designheaven.files.wordpress.com/2010/04/at-teeny-tiny-match-up.jpg
http://designheaven.files.wordpress.com/2010/04/at-tiny-match-up.jpg
http://designheaven.files.wordpress.com/2012/02/6895633767_a735546cf0_o.jpg
cheers
No chance for MM to survive in Malaysia.
Landed Semi-D is less than RM 1M, who wants to buy MM?
In HK, MM is now easily more than S$1M, young professionals cannot even afford MM.
So the root cause is still some over paid executives are over estimating the purchasing power of their customers.
Who wants to buy/rent a MM when they can comfortably afford a 3 bedder?
Thanks,
Richard
PS. Singapore will never be like HK because people are already starting to move north. When Thomson Line is up, you will see the trend to accelerate.
thanks for sharing :o
.....
Richard
PS. Singapore will never be like HK because people are already starting to move north. When Thomson Line is up, you will see the trend to accelerate.
I am curious your statement here.
Singapore has JB.
HK has Guangzhou.
Penang Island has Penang mainland.
In all these cases, properties on the islands are much more expensive than on mainland.
Do you see large scale population shift to the mainland?
Small is better and easier to appreciate. For Hdb, get the largest you can afford, but for private, get the smallest and cheapest you can find.
phantom_opera
28-05-12, 14:11
Small is better and easier to appreciate. For Hdb, get the largest you can afford, but for private, get the smallest and cheapest you can find.
Wise man
:cheers1:
iwantgizmos
28-05-12, 14:44
Small is better and easier to appreciate. For Hdb, get the largest you can afford, but for private, get the smallest and cheapest you can find.
Wise man
:cheers4:
http://www.businesstimes.com.sg/archive/friday/premium/companies/others/shoebox-units-inhuman-capitaland-ceo
Published May 25, 2012
Shoebox units inhuman: CapitaLand CEO
http://www.businesstimes.com.sg/archive/friday/sites/businesstimes.com.sg/files/imagecache/image_300x200/BT_20120525_INHUMAN25_1298474.jpg
'I am dead against shoebox developments. The govt should intervene.'
- CapitaLand CEO Liew Mun Leong
- BLOOMBERG
[SINGAPORE] Singapore should curb the increasing trend of so-called shoebox apartments because they are "almost inhuman", said CapitaLand Ltd chief executive officer Liew Mun Leong.
The government last week said it's concerned that shoebox apartments are mushrooming in the country as private home sales surged to a three-year high with record purchases of units that are smaller than 50 square metres.
"I am dead against shoebox developments," Mr Liew said in an interview at the downtown Singapore headquarters of South-east Asia's biggest developer. "The government should intervene. Singapore's land is very precious and you are wasting your scarce resources" by building shoebox apartments.
The country's population growth, scarce land and surging property values have prompted developers to shrink apartment space. Home prices surged to a record at the end of 2011 in a city that's about half the size of Los Angeles.
The government may introduce measures to regulate the sale of shoebox apartments after a record number were sold in the first quarter, Khaw Boon Wan, Singapore's National Development minister, said in Parliament on May 14.
Developers sold 1,764 shoebox units in the first quarter, or 27 per cent of all home sales, the most since the Urban Redevelopment Authority began collating the data in 2007. Apartments that cost less than $750,000 made up 42 per cent of new home sales in the first quarter, up from 25 per cent in the previous three months, the data showed.
"It's almost inhuman, it's not good for the welfare of the family to feel that constrained," said Mr Liew, 65, who grew up in a one-bedroom apartment with nine people and often slept along the corridor.
At CapitaLand's latest 509-unit project designed by architect Moshe Safdie in a central Singapore suburb, the smallest homes are one-bedroom units measuring 710 sq ft. Mr Liew said Singapore should impose a minimum size for homes.
Singapore developers built smaller apartments in the first quarter, with median size of homes shrinking 24 per cent to 667 sq ft, according to CBRE Group Inc. Median prices for the period slid 18 per cent to $786,340, it said.
The government has been attempting to rein in prices since 2009 when it barred interest-only loans for some projects and stopped allowing developers to absorb interest payments for apartments still being built. In December, it imposed additional taxes of as much as 10 per cent on home purchases.
CapitaLand shares closed three cents higher at $2.46 yesterday. The stock has risen 11 per cent since the start of the year, twice the 5 per cent increase in the Singapore benchmark Straits Times Index.
Government controls haven't slowed housing transactions in Singapore, driven by suburban projects, Mr Liew said. He reiterated the company's aim to sell as many as 1,000 homes annually over the next two to three years.
"We don't think we have an issue with" the target, he said. "If you're aiming for the high-end, central core areas like Orchard Road, the numbers will not be so optimistic. If you're selling to the mass market, then the demand is still there."
The next set of curbs may be targeted at the smaller apartments, said Wilson Liew, Singapore-based analyst at Maybank Kim Eng Holdings Ltd. "The Singapore government will first address the 'shoebox unit' phenomenon. More measures are on the way."
Singapore may limit the number of shoebox units to 10 per cent of each development, especially for projects in the suburbs, he said. The government could also set the minimum size for apartments at 50 sq m to ensure the quality of life isn't compromised, the analyst said.
The trend of shoebox units may not be unique to the country, said Pratik Burman Ray, an analyst at HSBC Holdings Plc in Singapore. Philippine developers have built homes smaller than 20 sq m, while those in Thailand and Indonesia are less than 35 sq m, he said. In Hong Kong, apartments smaller than 500 sq ft house two or three people, he said.
"I wonder if this phenomenon is Singapore specific or a shift in buyer preference, and then the question is: should it be regulated at all?" Mr Ray said. "What's needed is greater transparency to protect home buyers, which is perhaps more critical."
Developers will be required to provide more information including floor plans that reflect the actual size of the apartments, Mr Khaw said. Model homes should also depict the units "accurately," he said, adding that the changes will be introduced in the second half when the law is passed.
CapitaLand is lobbying against the shoebox units, said Mr Liew, citing a recent visit to a 400-sq-ft unit in Hong Kong. "I used to joke that when I sat on the sofa, I don't need the remote control to switch on the TV, I use my toes," he said. "If you build 200 sq ft, 300 sq ft for a family of two or three, you might as well stay in a box. There needs to be some degree of comfort level." - Bloomberg
TheOnlyGayInTheVillage
28-05-12, 16:03
Recently reporter2 starts to do the news postings under existing thread if any... proves that either IT is a bot running under upgraded code or it is human after all... :ashamed1: :p
http://www.straitstimes.com/Money/Story/STIStory_802788.html
Shoebox flats 'almost inhuman'
CapitaLand chief says trend of units of less than 50 sq m should be curbed
Published on May 25, 2012
SINGAPORE should curb the increasing trend of so-called shoebox apartments because they are 'almost inhuman', CapitaLand chief executive officer Liew Mun Leong said.
The Government last week said it was concerned that shoebox apartments are mushrooming as private home sales surged to a three-year high with record purchases of units that are smaller than 50sq m, or 538 sq ft.
'I am dead against shoebox developments,' Mr Liew said, in an interview at the downtown Singapore headquarters of South-east Asia's biggest developer. 'The Government should intervene. Singapore's land is very precious and you are wasting your scarce resources.'
Population growth, scarce land and surging property values have prompted developers to shrink apartment space.
Home prices surged to a record at the end of last year.
The Government may introduce measures to regulate the sale of shoebox apartments after a record number were sold in the first quarter, National Development Minister Khaw Boon Wan said in Parliament last week.
Developers sold 1,764 shoebox units in the first quarter, or 27per cent of all home sales, the most since the Urban Redevelopment Authority began collating the data in 2007.
'It's almost inhuman, it's not good for the welfare of the family to feel that constrained,' said Mr Liew, 65, who grew up in a one-bedroom apartment with nine people and often slept along the corridor.
At CapitaLand's latest project, a 509-unit apartment complex in a central Singapore suburb designed by architect Moshe Safdie, the smallest homes are one-bedroom units measuring 710 square feet. Mr Liew said Singapore should impose a minimum size for homes.
Government controls have not slowed housing transactions in Singapore, driven by suburban projects, he said, reiterating the company's aim to sell as many as 1,000 homes annually over the next two to three years.
'We don't think we have an issue with' the target, he said. 'If you're aiming for the high-end, central core areas like Orchard Road, the numbers will not be so optimistic. If you're selling to the mass market, then the demand is still there.'
The next set of curbs may be targeted at smaller apartments, said Maybank Kim Eng Holdings analyst Wilson Liew.
'The Singapore Government will first address the 'shoebox unit' phenomenon,' he said. 'More measures are on the way.'
CapitaLand is lobbying against shoebox units, said Mr Liew, citing a recent visit to a 400sq ft unit in Hong Kong.
'I used to joke that when I sat on the sofa, I didn't need the remote control to switch on the TV, I used my toes,' he said. 'If you build 200 sq ft, 300 sq ft for a family of two or three, you might as well stay in a box. There needs to be some degree of comfort level.'
BLOOMBERG
anythingwhatever
30-05-12, 01:08
actually CM4/5 are encouraging people to buy MMs ..why?
1. 4y SSD, this has increased the risk tremendously as once u buy a big unit with big quantum, you are stuck for 4y ... can you imagine buying any stock, when u sell in 4y you need to be taxed from 4-16% of the selling price?? As a prudent investor, if I want to allocated $$ into property, I will buy MM or 1br first with small quantum (not those Sky Habitat 700sqft that cost 1.1mio)
2. ABSD - again quantum is the #1 consideration if you get hit with ABSD
3. 60% LTV - isn't it obvious again quantum is the killing factor
It is also not true to say MM rental is untested, basically MM rental is superb in such place like Parc Imperial, Little India, D15, D14, D11 ... it is just not tested in Pasir Ris, Punggol or Hillview ... so MM close to MRT or closer to town is still kind of promising ... and we do not know how many people are buying for own stay or renting out right?
And How can MM price crashed and bigger units stay flat? Imagine if MM price crashed to 300k, 2br condo 800sqft still at 800k, then I buy 2 MMs next to each other and knock down the wall only cost 600k right?
Quote UOB Lady's card: "The men just don't get it" :p
With the same sum of $$, always better to invest in a few lower quantum properties than putting all of them in one expensive unit...
That's "Diversification"!! :D
anythingwhatever
30-05-12, 01:09
why not he reduces the price of his 3bedder and everyone will Q 3day 3nite. I guess everyone will want to stay a bigger house (not too big) given a choice at an affordable price. If its not affordable, 9 persons to a room is still considered comfortable. The last choice will be to sleep on the road. ;)
http://whatsprotocol.com/wp-content/uploads/2011/06/Facebook-celebrates-1st-Birthday-of-Like-Button-via-kshazyrdotblogspotdotcom.jpg
TheOnlyGayInTheVillage
03-06-12, 16:17
http://www.stproperty.sg/articles-property/singapore-property-news/shoebox-flats--inhuman-wheres-the-logic/a/67949?utm_source=Twitter&utm_medium=Post&utm_campaign=Social-Media
http://www.stproperty.sg/articles-property/upload/article/67949__1338182862.jpg
-- ST ILLUSTRATION: ADAM LEE
If there was one thing that incensed those who hated the hugely popular sitcom Friends - and there were many, including me - it was the idea that Rachel, Ross, Phoebe, Joey, Monica and Chandler lived in large New York city apartments, without any of them possessing high-value skills.
Being adorably neurotic can be hilarious to watch, but it won't land you a job at Goldman Sachs.
I was surprised that, in Singapore, there was no move to ban the show, seeing as it promoted the dangerous idea that young, unmarried people were entitled to homes the size of marine park killer whale enclosures.
As in New York, the absurdity of having money in Singapore is that we use it to buy the two things people who don't live here get for free - time and space.
The world's densest cities are incredible engines of wealth. Their citizens then spend that wealth creating the illusion that they live somewhere else.
We spend mind-boggling amounts on cars to avoid other humans riding the subway. We upgrade to bigger cars so we have more space inside. The same with our homes. Size matters.
Dollars per square foot is a national obsession, and I would argue that it is a yardstick more closely tied to our general level of happiness than any other.
This pet idea got support last week when CapitaLand chief executive officer Liew Mun Leong called shoebox apartments 'almost inhuman' in an interview with Bloom-berg news agency, and asked for measures to curb their numbers.
Oh dear. Unless you know what shoebox apartments are, you would think he was talking about chicken factory farms for humans, not homes of 50 sq m or less saddled with an unfortunate footwear- related nickname.
Life here warps the concept of floor space. It gains an importance that is out of whack with the rest of the world.
A few years ago, I was travelling in the tribal areas of northern Thailand. It was as you would expect - small wooden houses, compact villages.
Smack in the middle of one hamlet was a concrete monstrosity, twice as large as the wooden homes, with a cement courtyard ringed by a high brick wall.
Who lives there? I asked the guide.
'A French guy. He married a local girl and lives here now,' she said. This man of the city had chosen to live in the boondocks but brought along his size-bound idea of the good life.
All around him was a village of homes no larger than a three-room HDB flat, where wooden fences existed to, first, keep pigs from wandering off, then demarcate boundaries.
The villagers' homes, in contrast to the Frenchman's, were right- sized, not upsized. The tribal people were surrounded by millions of hectares of virgin land, but they chose to live in, yes, shoebox units.
It was the same in Mongolia. I stood on a hill and spotted yurts spaced about a kilometre apart. But the capital city of Ulan Bator is a teeming city of apartment blocks, and swelling every day with migrants, all clamouring to give up the vastness of the grasslands.
The good life in Thailand and Mongolia has very little to do with how much area a person owns under his feet. It has to do with being close to the community and getting away from the hardship of a nomadic life.
But back in Singapore, the notion of floor space has become intertwined with standard of living and, by association, with happiness.
This link between floor area and the good life ignores a couple of facts. For one, there are lots of people, especially those in their prime earning years of between 25 and 35, who do not see the home as a place for wallowing.
CapitaLand's Mr Liew in the Bloomberg story made a joke about how, in a 400 sq ft apartment in Hong Kong, he could switch on the television with his toes, from the sofa.
'There needs to be some degree of comfort level,' he said, implying that tiny flats have little or none.
As any Hong Kong resident will tell you, people with pep and vision are rarely at home - they are out and about, hustling, having fun. Flats are where they park their bodies in between bouts of making money.
Trading room size for a central location makes sense in a city (on a side note, toe-operating a TV actually sounds like a great idea to me - it keeps chip grease off the remote).
Families in Hong Kong and Singapore are much smaller than they used to be, too. I grew up in a three-room HDB flat with five other people. This works out to a density of about 15 sq m per person. I am not saying, by the way, that six people in a small flat was bliss. It was mostly bickering. All I am saying is that a couple with one child in a 50 sq m apartment will have nearly 17 sq m of space each.
So the idea that there is one size of apartment that is humane and one that is not is weird to me. If 50sq m is inhumane, is 53 sq m appreciably kinder? How about 57 sq m? Are people living in enormous bungalows extremely happy individuals?
Attaching a moral judgment to a home based on its size makes little sense to me.
I am willing to concede one point though. While Chandler was always pretty bitter, the rest of the Friends gang seemed pretty happy. I'll attribute that to the fact that none of them seemed to ever hold real jobs. In that case, they would have been just as chipper in tiny flats.
anythingwhatever
07-06-12, 10:04
TODAY Commentary: Not too small for comfort (http://www.todayonline.com/CommentaryandAnalysis/Commentary/EDC120607-0000017/Not-too-small-for-comfort)
http://imcmsimages.mediacorp.sg/cmsfileserver/showimageCC.aspx?124&105&f=2407&img=2407_55644.jpg&h=65&w=55
by Conrad Raj (http://www.todayonline.com/CommentaryandAnalysis/Commentary/EDC120607-0000017/Not-too-small-for-comfort)
And although I admire Mr Liew for his frankness and his views, I think he got it wrong on this one.
Even at 25 sq m, this space is larger than many hotel rooms in Singapore. And there are many serviced apartments here, especially the so-called studio and one-room apartments that are just around the 35-sq-m mark. I have known people who have lived for years in such abodes without showing any signs of discomfort or claustrophobia.
IT IS MORE AFFORDABLE
There is nothing like owning your own apartment. I remember how proud I was when I got my first flat. With the price of property so high these days, shoebox apartments are one of the few affordable abodes for those who have not been working for long.
Even our Housing & Development Board started with one-room flats which were only 23 sq m. Mr Liew himself admitted to growing up in one such unit with eight others. Perhaps that has coloured his view on shoeboxes. While his was a case of extreme overcrowding, I see nothing wrong with such a unit for a newlywed couple to start off with before upgrading.
And that is precisely what the developers of shoebox apartments have in mind: Singles or couples purchasing these flats as their first property, or as an investment to rent out. It is often a question of affordability and eligibility; the HDB caters only up to a certain income level for direct purchases.
I like the URA's attitude toward shoeboxes. "In general, residential units should be self-contained with basic amenities such as a living area, bedroom, kitchen and bathroom," a URA spokeswoman was quoted as saying last month. Rightfully, the authorities' concern should be with quality and safety issues.
And do we really want further government intervention in curbing the number of shoebox units? Let the market decide. If the yields from these apartments are not good enough, people will stop purchasing them and developers will stop building more. Why should they want to cater to a non-existent market?
So...in today Business Tmes, 11 June 2012, it is reported that Capitaland did build some shoeboxes after all at the Bedok Residences...........catching the CEO unaware of it(??)
and stupidly now qualifying his earlier "inhuman" remark that the MMs at Bedok Residences are all one bedder......and suitable for singles and the newly weds. Isn't that what we have been talking about all along? :doh:
Instead of calling MM "inhuman", he now called it being very "restrictive."
http://www.businesstimes.com.sg/sites/businesstimes.com.sg/files/imagecache/image_300x200/BT_20120611_FCCAPITALAND_1309989.jpg (http://www.businesstimes.com.sg/sites/businesstimes.com.sg/files/imagecache/filenamee/BT_20120611_FCCAPITALAND_1309989e.jpg)
Mr Liew: I should have said it's 'too restrictive' instead of 'inhuman'
[SINGAPORE] CapitaLand Group, whose CEO recently called shoebox homes "almost inhuman", has residential projects with units that fall within this category.
At Bedok Residences, 37 of the development's 583 apartments are below 50 sq m (538 sq ft). The smallest unit is 48 sq m, or about 517 sq ft. Another 11 units border along the size of a shoebox apartment at 50 sq m.
Over at d'Leedon at Farrer Road, 226 of its 1,715 units are between 50 and 60 sq m, slightly bigger than what is usually considered a shoebox home.
The Urban Redevelopment Authority (URA) defines a small apartment as being below 50 sq m. There are, however, slight variations to benchmarks used on what constitutes a small home here. For instance, the NUS Singapore Residential Price Index (SRPI) classifies small apartments as those up to 506 sq ft (47 sq m). Most in the property industry agree, however, that shoebox apartments are units of about 500 sq ft each.
anythingwhatever
11-06-12, 12:27
So...in today Business Tmes, 11 June 2012, it is reported that Capitaland did build some shoeboxes after all at the Bedok Residences...........catching the CEO unaware of it(??)
and stupidly now qualifying his earlier "inhuman" remark that the MMs at Bedok Residences are all one bedder......and suitable for singles and the newly weds. Isn't that what we have been talking about all along? :doh:
Instead of calling MM "inhuman", he now called it being very "restrictive."
Classic Case of "自相矛盾"... :D
TheOnlyGayInTheVillage
11-06-12, 12:41
Aiyo. So malu for someone of his level.
Who approved e Bedok Residence project? Not him.
dont think capitaland built anything less than 500sqft, so strictly speaking he did not contradict himself.
also, studio or 1 bedders in Capitaland projects don't take up more than 30 or 40% of total units. Their 2 and 3 bedders are also of generous sizes by today's stds, which is unlike those MM builders where units of all sizes are MMs.
anythingwhatever
11-06-12, 23:12
http://www.straitstimes.com/Money/Story/STIStory_802788.html
Shoebox flats 'almost inhuman'
CapitaLand chief says trend of units of less than 50 sq m should be curbed
Published on May 25, 2012
SINGAPORE should curb the increasing trend of so-called shoebox apartments because they are 'almost inhuman', CapitaLand chief executive officer Liew Mun Leong said.
The Government last week said it was concerned that shoebox apartments are mushrooming as private home sales surged to a three-year high with record purchases of units that are smaller than 50sq m, or 538 sq ft.
BLOOMBERG
TECHNICALLY speaking, he did contradict himself... Gov defined shoeboxes as less than 538 sq ft...
TECHNICALLY speaking, he did contradict himself... Gov defined shoeboxes as less than 538 sq ft...
not defending capitaland or anything, but i would think that is nitpicking bcos those units are just a handful... On the whole capitaland is nothing like those "well know" MM developers where all units in their projects are exclusively MMs. :)
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