Page 1 of 2 12 LastLast
Results 1 to 10 of 17

Thread: Buying flats called shoeboxes: Khaw's new blog

  1. #1
    Any complaints please PM me

    User Info Menu

    Default Buying flats called shoeboxes: Khaw's new blog

    [url]http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_683482.html[/url]

    Jun 24, 2011

    [B][SIZE="5"]Buying flats called shoeboxes: Khaw's new blog[/SIZE][/B]

    By Tan Herng Yih


    MINISTER of National Development Khaw Boon Wan shared his thoughts on his latest blog on Friday regarding very small apartments popularly labelled 'shoe-box' units here in Singapore.

    Shoe-box units are typically below 500 square feet, and there has been an increasing demand for it. Mr Khaw wrote this blog post on Friday titled: 'Buying Shoe Boxes?'.

    He wrote on his blog (as is carried here): 'Many Hong Kong apartments are almost shoe-boxes; Tokyo too. Singaporeans are however house proud and we want our apartments to be cosy, comfortable and spacious. Most will not have land, but they must not be claustrophobic.

    'The emergence of shoe-box units here is a recent phenomenon. And it seems to have a demand. The annual take-up of such units has tripled from 300 units in 2008 to 1,900 in 2010, or from 6% to 12% of developers' sales over the same period.

    'Industry analysts and developers made these comments to me about shoe boxes. First, many of these units will be completed soon. By 2014, the total number of completed units will increase from 1,100 to 3,800, based on known plans. Second, some developers who bid high prices for sale sites, are planning to build shoe-box units, adding to the build up. Third, the newer shoe-box developments are in the suburbs. Their appeal to tenants remains untested.

    'Some analysts wonder aloud if buyers know what they are in for. Some have suggested that the government should step in to impose a minimum size. My instinct is not to second guess the market. Some shoe-box units do add to the diversity of housing options here. But we are closely watching its development.'

    Read the remainder of Mr Khaw's blog post here: [url]http://mndsingapore.wordpress.com[/url]

  2. #2
    Senior

    User Info Menu

    Default

    That means not doing anything to restrict development and sales of MM projects. It would be benefit current MM owners if there are restrictions due to a limit on supply. Not doing anything means more expensive properties due to higher psf which would benefit developers and banks.

  3. #3
    Newbie

    User Info Menu

    Default

    Hmmm.... More measures coming MM path ?
    maybe cannot be v v small ?? < 300 sf ?

  4. #4
    OCR properties going to crash!

    User Info Menu

    Default

    [COLOR="Red"][B]the newer shoe-box developments are in the suburbs. Their appeal to tenants remains untested.[/B][/COLOR]
    Not only for shoe-box developments, but also buying suburbs properties for investment and rental are untested.


    Quote Originally Posted by mr funny
    [url]http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_683482.html[/url]

    Jun 24, 2011

    [B][SIZE="5"]Buying flats called shoeboxes: Khaw's new blog[/SIZE][/B]

    By Tan Herng Yih


    MINISTER of National Development Khaw Boon Wan shared his thoughts on his latest blog on Friday regarding very small apartments popularly labelled 'shoe-box' units here in Singapore.

    Shoe-box units are typically below 500 square feet, and there has been an increasing demand for it. Mr Khaw wrote this blog post on Friday titled: 'Buying Shoe Boxes?'.

    He wrote on his blog (as is carried here): 'Many Hong Kong apartments are almost shoe-boxes; Tokyo too. Singaporeans are however house proud and we want our apartments to be cosy, comfortable and spacious. Most will not have land, but they must not be claustrophobic.

    'The emergence of shoe-box units here is a recent phenomenon. And it seems to have a demand. The annual take-up of such units has tripled from 300 units in 2008 to 1,900 in 2010, or from 6% to 12% of developers' sales over the same period.

    'Industry analysts and developers made these comments to me about shoe boxes. First, many of these units will be completed soon. By 2014, the total number of completed units will increase from 1,100 to 3,800, based on known plans. Second, some developers who bid high prices for sale sites, are planning to build shoe-box units, adding to the build up. Third, [COLOR="Red"][B]the newer shoe-box developments are in the suburbs. Their appeal to tenants remains untested.[/B][/COLOR]

    'Some analysts wonder aloud if buyers know what they are in for. Some have suggested that the government should step in to impose a minimum size. My instinct is not to second guess the market. Some shoe-box units do add to the diversity of housing options here. But we are closely watching its development.'

    Read the remainder of Mr Khaw's blog post here: [url]http://mndsingapore.wordpress.com[/url]

  5. #5
    Newbie

    User Info Menu

    Default

    haha teddy.. why you want to turn every thread into ccr vs ocr.. we know your point already and acknowledge ccr is the best liao..

  6. #6
    Exalted

    User Info Menu

    Default

    Quote Originally Posted by teddybear
    [COLOR="Red"][B]the newer shoe-box developments are in the suburbs. Their appeal to tenants remains untested.[/B][/COLOR]
    Not only for shoe-box developments, but also buying suburbs properties for investment and rental are untested.
    Bcoz vitamin M not enuff mah

  7. #7
    Senior

    User Info Menu

    Default

    buying suburban properties for investment has been tested all along. Those first buyers of any existing resale condo in the OCR have already made a tidy sum from their investment. First owners of Centris, Caspian, Lakeshore and many many projects in the OCR are laughing their way to the banks be it oversupply or undersupply or whatever supply situation and it is definitely wrong to say OCR properties make poor investment and CCR is definitely better. Rental yield it is needless to say OCR trumps CCR by a fair margin.

    It is better to buy 10 OCR condos at $750k each and renting each one out for $3.5k a month (total rental received is $35k a month) compared to buying a $7.5 million condo in the CCR and renting one out at only $15k a month. Some people might argue that it is easier for the $7.5 mil CCR property to appreciate in value to $8.5 mil during a property bullrun, but in a bull market, a $100k increment in each OCR property invested would also mean a capital appreciation of $ 1 mil ($100k x 10 properties). My point is this, never dump all the money into one property in the CCR, good to diversify and buy a mixed basket of properties in CCR, RCR and OCR. Those die hard investors of CCR have been losing out on OCR investment opportunities big time over the last few years and I have also made a late entry into OCR (sigh) but better late than never.

  8. #8
    Exalted

    User Info Menu

    Default

    Dun tink can find 750k rental 3.5k now....

    More like 1mil 3.5k liao

  9. #9
    Go for Smallest Unit

    User Info Menu

    Default

    Quote Originally Posted by devilplate
    Dun tink can find 750k rental 3.5k now....

    More like 1mil 3.5k liao
    3 bedders and slightly above hdb's by 50%...

    new benchmark for 3 bedders... above 1200 sqf... $1 Million at least.

  10. #10
    Senior

    User Info Menu

    Default

    you still can. If you trust my recommendation, you can buy this unit (can bargain to below $800k). If you lose money, come and find me lol

    [url]http://www.propertyguru.com.sg/listing/4672596/for-sale-regent-grove[/url]

    Quote Originally Posted by devilplate
    Dun tink can find 750k rental 3.5k now....

    More like 1mil 3.5k liao

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •