Investor Leona Lo, who has just bought a 463 sq ft shoebox unit in Petir Road, said she is not concerned that the surge in the number of shoebox units next year will hurt rents if she intends to lease hers out.
'You must always like what you buy. We've also chosen very carefully. In the area we've chosen, Bukit Panjang, there are no visible shoebox developments, so we'll be the first,' the public relations consultant said. 'It's not saturated like in the East Coast.'
She added that she had just sold a 430 sq ft shoebox apartment in East Coast Road, which she had previously rented out at a yield of 'above 2.5 per cent - more than break-even'.
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