I actually expected this condo to be a hive of activity given the large number of units on a relatively small piece of land. But strangely, the condo remains relatively quiet even though owners started moving in 18 months ago. There are not many cars parked there. The condo has even installed those double decker car park mechanisms but I have not seen these in use yet as there is still ample parking even though I think that there is just one car park lot per apartment.
What these observations suggest to me is that a lot of these shoebox apartments remain empty. Many of the owners paid $1,200 psf when they bought these from the developers. Many of them may just be speculators as can be seen from the frequent for-sale and for-rent advertisements.