1 bedrooms at Optima for Sales

1 bedrooms at Optima
2 mins to Tana Merah MRT
Rental yield about 5%
TOP 2013
Asking S$620,000

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

3+1 Astoria Park for Sales

3+1 rooms at Astoria Park for Sales
Besides Kembangan MRT
Asking s$1.03 million

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

4+1 at Dakota Residences for sales

4+1 sq ft, at Dakota Residences
Floor area: 1970 sq ft
Designer Decor
Asking S$1,350 psf.

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

2 bedrooms at Intero for Sales

2 bedrooms at Intero
1066 sq ft, mid floor
facing greenery, Freehold
Asking S$1.08 million

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

4+1 Penthouse at SummerHIll for Sales

4+1 Penthouse at Summerhill
total 3261 sq ft, high ceiling
facing North East
Asking S$2.5 million

3+1 at Summerhill
Asking S$1,07 million

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

2+s/3+1 at Warren for Sales

3+1, 1238 sq ft at Warren
Renovated, excelllent facing
No afternoon sum
Asking S$970k neg

2+1 study, 1066 sq ft
Asking S$820K neg

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

3 bedrooms Hillvista for Sales

3 bedrooms at Hillvista for Sales, 1130 sq ft
nice layout and facing landed properties
near future MRT
Asking s$1.28 million

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

4+1 rooms at Hillvista

Hillview Specialists
4 bedrooms at Hillvista for Sales
1292 sq ft, Face pool,
TOP soon, Asking s$1.48 m
near Hillview MRT

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

Diary Farm for Sales

2  bedrooms, very spacious
Dairy Farm for Sales
1518 sq ft,  ground leel
small balcony.
Asking s$1.38 million

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

2+1 at Gilstead 38 for Sales

2+1 rooms, 980 sq ft at Gilstead 38
Tenated till 2011
Asking S$1.35 million

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

3+1 at Pandan Valley for Sales

3+1, 1335 sq ft Pandan Valley
Potential enbloc
high floor, asking S$1.35 million

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

2+1 Goodluck Gaden

Goodluck garden
1033 sq ft, 2+1  rooms
near Pei Hwa school
Asking S$950K
Potential Enbloc

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

3+1 Gilstead Mansion for Sales

3+1 at Gilstead Mansion
1604 sq ft,
pool view, MRT
Asking S$2.1 million

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

3+1 1755 sq ft Pine Grove for Sales

Good opportunity
1775 sq feet at Pine Grove
Asking S$2,08 million
willing to lease back.

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

3+1 at Hume Park II for Sales

3+1 rooms at Hume Park II for sales
premium stack, high floor
pool view
1485 sq ft, 1.29 million

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

3+1 Hillview Green for Sales

3+1 at Hillview Green
low floor,
1281 sq ft asking S$1,04 million
can co-broke

3+maid's room+balcony Hillview Green
mid floor, nicelhy renovated, pool view
no west sun, very spacious layout,
1302 sq ft, Asking S$1.05 million

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

3 bedrooms at Hillbrooks for Sales

3 bedrooms at Hillbrooks for Sales
1173 sq ft, tenanted at S$2,400
Asking S$950,000

3 bedrooms at Hillbrooks for Sales

1066 sq ft, asking S$920,000

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

3/4 bedroms at Parc Palais for Sales

4+Family+Study+Maid+Balcony at Parc Palaisa
Penthouse unit, floor area 2680 sq ft
Asking 2.3 million

4 bedrooms at Parc Palais
1550 sq ft, Two ensuite bathrooms
Freehold, very good layout, quiet.
Tenanted and asking S$870 per sq ft.
(Last transacted at Blk 57, 1528 sq ft for S$1.37million)

3 bedrooms on ground level, Parc Palais
1324 sq ft, asking S$1,000,000

3 bedrooms Parc Palais
1378 sq ft, asking S$1.20 million

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

3+1+ Patio, Hillbrooks for Sales

3+1 at Hillbrooks condo for Sales
Freehold property
Ground floor with patio, 1507 sq ft

Asking S$900 per sq ft
All rooms & living facing pool view

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

3+1+Patio at Hillington Green for Sales

3+1 at Hillington Green for Sales
999 years lease
Ground floor with patio, 1776 sq ft
Asking S$1,39 million

Please call (65) 9101-9922 Agent

Unit has been co-broked, direct buyers only

Owner Selling Welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

3+1 at Espa for Sales

ESPA, Cashew Road (off Upper Bt Timah Road)
Opposite future Cashew MRT,
999 years. Rare !!!
Near Ten Mile Junction.

For Sale or Rent (got 3 units) :
* Ground Floor : 3+1 bdrms, 1679 sqft, $1.3 Million ; $3,500/month
(Unfurnished)
* Mid Floor : 3+1 bdrms, 1087 sqft, $1.1 Million ; $3,500/month (Fully
Furnished)
* Penthouse : 3+1 bdrms, 1743 sqft, $1.5 Million; $4,200/month (Fully
Furnished)

Studio at Tyrwhitt 139 for Sales

S$ 570,000     |  Studio   |  1 bath
366 sqft / 34.00 sqm   |  S$ 1557.38 psf (built-in)

Tyrwhitt 139

Rare Gem! Must Buy! So near to City, where to find FREEHOLD below $600K?!

* Well Kept, only 1 year old. As good as new. See to believe!
* 6 Mins walk to Farrer Park or Lavender MRT.
* Centrally located! Right outside of ERP zone too. Very convenient!
* Great location! Great Investment!
* Minutes away from the stretch of 24 hrs eateries and restaurants located at Kitchener Road and Syed Alwi Road.
* Residents can head down to the nearby shopping malls like Mustafa Centre or simply stroll to City Square Mall for amenities such as supermarkets, restaurants, banks, cinema, and more!
* Driving to CBD or the vibrant Orchard Road shopping belt takes less than 5 minutes.
* Low monthly Maintainence too!

Many Studios Condo unit for Sales - Good Investment

Studios for Sales
---------------------
Suites at Shrewberry   1 room condo,  344 sq ft, Stack 2  Asking  S$570,000  (TOP 2014)
Studio near Farrer Park1 room condo,  366 sq ft,  #03     Asking   S$570,000 (tenanted)
Studio at 8@Woodleigh, 1room condo, 398 sq ft, high floor, Stack 10, Asking S$560,000 (TOP 2012)
Centra Suites near Aljunied, 1 room condo, 344 sq ft,   Asking S$580,000
Urban Suites near Farrer Park, 1 room condo, 344 sq ft, Asking S$760,000

call: (65) 9101 9922 agent
owners selling/renting welcome
http://brandzlim.com
http://housingunlimited.blogspot.com
www://propertiesDB.net

Super Blazing Sales at One Shenton, it's now or never!!!!

Super Fire Sales at One Shenton

Super high floor seaview facing with no afternoon sun

4 bedroom, 1894sqft. 44th floor

original purchase price : 5,223,360 ( est. 2757psf)

asking price : 4,350,000 can close! 

47th floor, Super high floor unit !)

4 bedroom, 1787sqft

Orginal purchase price : 4,270,080 (est. 2389psf)

asking price : 4,220,000 can close!  

call: (65) 9101 9922 agent
owners selling/renting welcome
http://brandzlim.com
http://housingunlimited.blogspot.com
www://propertiesDB.net

3/3+1/4 bedrooms at Hillview various condos for Sales

3+1, at Glendale Park for Sales
1249 sq ft, pool and greenery view
200m to future Hillview MRT
Asking S$850 psf

3+1+Patio at Hillbrooks for Sales
1507 sq ft, pool view
Asking S$850 psf

4+1 at Hillbrooks for Sales
1658 sq ft, pool view
Asking S$850 psf


4+1 at Summerhill Penthouse for Sales
3261 sq ft, renovated.  High Ceiling, face greenery
Asking S$2.65 million

Hillvista - various sizes
mid floor, near future MRT
Asking S$1,1xx psf average

Lanai - various sizes
Asking S$1,300 psf average

call: (65) 9101 9922 agent
owners selling/renting welcome
http://brandzlim.com
http://housingunlimited.blogspot.com
www://propertiesDB.net

2 bedroms at Hillview Heights for Sales

19 November 2010
2 bedrooms at Hillview Heights for Sales

980 sq ft, mid floor, north south facing
Asking S$850,000

2 bedrooms at Hillview Heights for Sales
958 sq ft, high floor, face pool
Viewing this Sunday, 2 to 3 pm

call: (65) 9101 9922 agent owners selling/renting welcome http://brandzlim.com http://housingunlimited.blogspot.com www://propertiesDB.net

2+1+Patio for Sales

2+1+Patio at the Petals condo
1345 sq ft high ceiling
Asking S$1,100,000

call: (65) 9101 9922 agent owners selling/renting welcome http://brandzlim.com http://housingunlimited.blogspot.com www://propertiesDB.net

2/3/4 bedrooms at Hillview Green for Sales

Hillview Specialists
Hillview Green, 999 years leasehold from 1883.
2 bedrooms 980 sq ft   Asking S$830,000
3 bedrooms 1281 sq ft, Asking S$1,030,000
3 bedrooms 1302 sq ft, Asking S$1,050,000
4 bedrooms 1485 sq ft, Asking S$1,400,000

call: (65) 9101 9922 agent
owners selling/renting welcome
http://brandzlim.com
http://housingunlimited.blogspot.com
www://propertiesDB.net

1 bedrooms at Icon for Sales

1 bedrooms at Icon for Sales

581 sq ft, city view

Asking S$1,17 million

call: (65) 9101 9922 agent

owners selling/renting welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

www://propertiesDB.net

Freehold 3+1 at Hillview Park for Sales

Hillview Specialists
3+1 Hillview Park for Sales
Low floor, freehold property
vacant possession
Very near future Hillview MRT
Asking S$920,000 Serious Seller!!

call: (65) 9101 9922 agent

owners selling/renting welcome

http://brandzlim.com

http://housingunlimited.blogspot.com

www://propertiesDB.net

The Peaks at Cairnhill

PEAK AT CAIRNHILL 

Freehold, District 9

The Peak @ Cairnhill - Standing at a towering height of 15 storeys, The Peak@Cairnhill I showcases grace that sends your heart fluttering. Every ascending level leads you to the grandeur of 52 units. Situated at Cairnhill Road - the heart of Orchard, The Peak@Cairnhill I has an impressive location that tags along with your identity. Orchard presents to you the international forefront of fashion galore and the foremost of lifestyle treats. It is the one and only address that you would ever remember fondly of and return devotedly to. Attunbe to your desire, because love is in the air.

The Peak @ Cairnhill Unit Type:
Bed	Type	Total	Approx Size
		Units	Range (sqm/sqft)
1 Bedroom + Study	A1	12	55 / 592
1 Bedroom + Study	A2	12	55 / 592
1 Bedroom + Study	A3 ODD	6	63 / 678
1 Bedroom + Study	A3 EVEN	6	64 / 689
1 Bedroom + Study	A4	12	49 / 527
1 Bedroom + Study	A1 – G	1	86 / 926
1 Bedroom + Study	A4 – G	1	93 / 1001
Penthouse 2 Bedroom	P1	1	167 / 1797
Penthouse 2 Bedroom	P2	1	185 / 1991
	Total 52 units

Unique Selling Points (USPs)

• The Peak@Cairnhill I is exclusively located in our Prime D09, in the quiet enclave of Cairnhill circle. It is only a stone throw away from our Singapore renowned world class shopping belt – in the heart of Orchard Road!
• The One & Only Boutique Development at Cairnhill Circle on Hill Top!
• Most Affordable Investment in the vicinity! Attractive Pricing! Be the first to own one today! Don’t Miss!
•  ‘MIELE’ Kitchen appliances and ‘Hansgrohe’ fittings are provided.
• Units layout are very functional and efficent
• Easy access to public transportation & walking distance to 3 MRT Stations (Newton, Orchard and Somerset)
• Walking distance to renowed shopping malls like Paragon, Takashimaya, Centrepoint, ION Orchard etc..
• Within 1km to ACS
• Minutes away to Central Business District & MBS.
• Near to top class medical facilities, i.e. Mount Elizabeth, Gleneagles
• A taste of our rich local gourmet at our famous Newton Food Centre.
• Excellent accessibility islandwide via Central Expressway (CTE)
• High capital appreciation and good rental yield!

Call: (65) 9101 9922 

  

Developer Sales Team 

Studio at Hillcrest Arcade for Sales

Studio at Hillcrest Arcadia
452 sq ft
Tenanted till April 2011
99 years lease, with en bloc potential
Asking S$610,000

 call: (65) 9101 9922 agent
owners selling/renting welcome
http://brandzlim.com
http://housingunlimited.blogspot.com
www://propertiesDB.net

3+1 rooms, 1507 at Hillbrooks for Sales for Sales

Hillview Specialist!!!
3+1 rooms, Hillbrooks
Freehold property investment
Floor Area 1507, Asking S$900 per sq ft

call: (65) 9101 9922 agent
owners selling/renting welcome
http://brandzlim.com
http://housingunlimited.blogspot.com
www://propertiesDB.net

3+1 at Oleander Towers for Sales, Serious Seller!!!

3+1 rooms at Oleander Towers
Very well Kept
New Kitchen
Asking S$1,000,000 ono

call: (65) 9101 9922 agent
owners selling/renting welcome
http://brandzlim.com
http://housingunlimited.blogspot.com
www://propertiesDB.net

4 bedrooms at Nassim Jade for Sales

Nassim Jade for Sales
2196 sq ft, 4 bedrooms
Asking S$6,800,000

Total 39 units of Freehold
completed: 1999

Facilities:

SWIMMING POOL
WADING POOL
SAUNA
GYM
BBQ AREA
COVERED CAR PARK
24-HOUR SECURITY

call: (65) 9101 9922 agent
owners selling/renting welcome
http://brandzlim.com
http://housingunlimited.blogspot.com
www://propertiesDB.net

Studio/3 rooms at Moonstone Residences for Sales

Moonstone Residences
742 sq ft, pool view, freehold
Asking S$715,000

1238 sq ft, asking S$950,000

TOP: 2005, TOTAL 76 UNITS FREEHOLD UNITS

Facilities:
SWIMMING POOL WITH JET POOL
WADING POOL
BBQ PITS
PLAYGROUND
EXERCISE CORNER
FUNCTION ROOM
GYMNASIUM
JACUZZI
COVERED CAR PARK
24-HOUR SECURITY


call: (65) 9101 9922 agent
owners selling/renting welcome
http://brandzlim.com
http://housingunlimited.blogspot.com
www://propertiesDB.net

3 bedrooms at the Sunny Spring for Sales

3 bedrooms, 1109 sq ft
Sunny Spring
South Facing Park View
Selling with tenancy for another 14 months.
Asking S$928,000

call (65) 9101 9922 agent,
already co-broked
owners selling/renting welcome
http://brandzlim.com
http://propertiesDB.net

3+s at Quinterra for Sales

359 Holland Rd, Quinterra
High Floor with spectacular view.
North Facing
Asking $2.4m (1207psf)
1988sqft (3+S)
With tenancy till 2012.

call (65) 9101 9922 agent,
already co-broked
owners selling/renting welcome
http://brandzlim.com
http://propertiesDB.net

3+1 Domain Centre for Sales

3+1 rooms at Domain Centre
Heart of Siglap
Beautiful condo
1451 sq ft, Asking S$935 per sq ft

call (65) 9101 9922 agent,
already co-broked
owners selling/renting welcome
http://brandzlim.com
http://propertiesDB.net

2+1 Freehold investment at Waterina condo

Waterina condo Freehold,
2+1, 1130 sq ft
Condo in very good condition
No west sun, Serious seller
Asking s$9xx,xxx

Facilities:
SWIMMING POOL
WADING POOL
BUBBLE POOL
SPA
JACUZZI
GYM
CLUBHOUSE
PLAYGROUND
BBQ AREAS
CAR PARK
24-HOUR SECURITY


call (65) 9101 9922 agent,
already co-broked
owners selling/renting welcome
http://brandzlim.com
http://propertiesDB.net

1 bedroom studio at Gloucester Mansion for Sales

Gloucester Mansion
657 sq ft, 1 bedroom
Near food mkt, Newton Mrt
tenanted. Asking S$1,02 million

call (65) 9101 9922 agent,
already co-broked
owners selling/renting welcome
http://brandzlim.com
http://propertiesDB.net

2 bedrooms at the Axis for Sales

2 bedrooms at the Axis condo, off balestier main road
Good investment, Project has 52 units of freehold property
828 sq ft, with tenancy
Asking s$1,080,000

Facilities:
SWIMMING POOL
FUN POOL
GYM
TENNIS COURT
CHILDREN' S PLAYGROUND
BBQ
CAR PARK

call (65) 9101 9922 agent,
already co-broked
owners selling/renting welcome
http://brandzlim.com
http://propertiesDB.net

3 bedrooms at the Meyer Residences for Sales

3 bedrooms at the Meyer Residences
1066 sq ft, face pool and high ceiling
Asking S$1,380 psf

Facilities:
SWIMMING POOL
FUN POOL
GYM
TENNIS COURT
CHILDREN' S PLAYGROUND
BBQ
CAR PARK


call (65) 9101 9922 agent,
already co-broked
owners selling/renting welcome
http://brandzlim.com
http://propertiesDB.net

3 bedrooms condo at the Tanah Merah

The Tanah Merah
1518 sq ft
3+1 rooms
Face full pool view
Near MRT
Asking S$1,200,000

call (65) 9101 9922 agent,
already co-broked
owners selling/renting welcome
http://brandzlim.com
http://propertiesDB.net

Penthouse at Parc Mondrian for Sales

Penthouse at Parc Mondrian
TOP very soon
beautiful unblocked views
2,300 sq ft, Asking S$2,100,000

call (65) 9101 9922 agent,
already co-broked
owners selling/renting welcome
http://brandzlim.com
http://propertiesDB.net

3 bedrooms at Sunflower Lodge for Sales

3 bedrooms, 2 bathrooms at Sunflower Lodge
999 years lease, Lor 34 Geylang
Floor area: 1022 sq ft, 95 sqm
5 mins to city
Asking S$780,000

call (65) 9101 9922 agent,
already co-broked
owners selling/renting welcome
http://brandzlim.com
http://propertiesDB.net

3 bedrooms at Equatorial for Sales (near MRT)

3 bedrooms
The Equatorial, near future MRT
Valued at S$2.75 million
Selling below valuation
at S$2.55 million only

call (65) 9101 9922 agent,
already co-broked
owners selling/renting welcome
http://brandzlim.com
http://propertiesDB.net

3+1 Hazel Park Condo near Future Hillview MRT

The Hazel Park Condo
999 years lease

3 bedrooms, low floor
1378 sq ft, original condition
near future mrt, and good schools
Asking S$1,050,000

call (65) 9101 9922 agent,
already co-broked
owners selling/renting welcome
http://brandzlim.com
http://propertiesDB.net

2/3/4 Freehold Investment at the Petals Condo

Hillview Specialists!!!!
Petals Condo, Freehold

2 bedrooms with ground floor, 1345 sq ft with generous patio
asking S$1,100,000

2 bedrooms, 2 bathrooms, penthouse, 1938 sq ft
Asking S$1,320,000

2 bedrooms,ground floor loft, 1194 sq ft
Asking S$890,000

3 bedrooms,3 baths, 1302 sq ft
Asking S$1,080,000

4+1 high floor, 1839 sq ft
Asking S$1,500,000


Facilities:
SWIMMING POOL
GYM
TENNIS
PLAYGROUND
BBQ
CLUBHOUSE
COVERED CAR PARK
24-HOUR SECURITY


call (65) 9101 9922 agent,
already co-broked
owners selling/renting welcome
http://brandzlim.com
http://propertiesDB.net

3 bedrooms, 999 years lease investment at Hillview 128

Hillview Specialists!!!!
Hillview 128, 999 years lease, as good as Freehold.
Near future Hillview MRT
3 bedrooms, 969 sq ft,face pool, high floor
Asking S$798k only...Tenanted till 2011
near future Hillview MRT

call (65) 9101 9922 agent,
already co-broked
owners selling/renting welcome
http://brandzlim.com
http://propertiesDB.net

Don't Miss 2 bedrooms Freehold Investment at Hillview Heights

Hillview Specialists
Near future Hillview MRT
2 bedrooms, 958 sq ft, face pool, high floor
Asking S$820k only...
near future Hillview MRT


Facilities:
SWIMMING POOL
WADING POOL
BBQ PIT
CHILDREN'S PLAYGROUND
TENNIS COURT
SQUASH COURT
WATERFALL
FUNCTION ROOM
CAR PARK
24-HOUR SECURITY



call (65) 9101 9922 agent,
already co-broked
owners selling/renting welcome
http://brandzlim.com
http://propertiesDB.net

Small Size, Big Draw

SMALL studio apartments might be a tight squeeze for some, but they have punched above their weight - and size - by achieving record prices, even in less glitzy areas outside the city centre.

These so-called shoebox apartments, typically less than 500 sq ft in size, first made their presence felt around 2006 in mainly prime districts. The Robertson Edge project off Mohamed Sultan Road is one example.

But the trend has since spread to regions outside the central area.

In fact, a 474 sq ft apartment at The Scala, near Lorong Chuan MRT station, was sold for $1,522 per sq ft (psf) - or about $720,000 - in August, according to caveats lodged with the Urban Redevelopment Authority.

Experts said this was likely to be a benchmark price set for a 99-year leasehold project outside the central region. Another two similarly sized apartments sold for $1,467 psf and $1,437 psf last month.

Other apartments which have fetched high prices include a 484 sq ft unit at 99-year leasehold project Optima@Tanah Merah, which sold for $1,280 psf, or $620,000, in September.

A 420 sq ft unit at Siglap V - also outside the central area - transacted at $1,584 psf, or $665,000, in August, while a 409 sq ft unit at Suites@Changi sold for $1,379 psf, or $564,000, in September. Both projects, however, are freehold.

Experts said buyers are drawn to the more affordable investment prices of shoebox units, compared with those of family-sized homes. The rising prices of Housing Board flats might also have nudged some to buy private properties at comparable prices instead.

The success of earlier shoebox developments, which have enjoyed capital gains in line with the market and higher rental yields, has also fed the trend, they added.

A CB Richard Ellis report last month said about 10 residential projects featuring predominantly small-format units will be launched in the next few months. With the exception of one, all the sites are in suburban areas like Telok Kurau, Siglap and Eunos.

Cushman and Wakefield's senior manager of Asia-Pacific research Ong Kah Seng said most shoebox apartment buyers are price-sensitive, and similar in profile to the typical buyers of suburban condominiums. Such units are thus increasingly popular, even if they are in non-prime areas, he said.

'Buyers of shoebox units are mixed in profile, but are usually singles or couples without kids, who do consider renting out the units... although the majority do not mind using them for owner occupation should there be limitations in finding the right tenants,' added Mr Ong.

Mr Colin Tan, head of research and consultancy at Chesterton Suntec International, said that with the market flush with liquidity, investors are constantly looking for avenues to park their cash.

And because investors have dominated sales, the attractions which owners usually look for, such as amenities, security and surroundings, matter less, he said. Instead, accessibility, such as being close to an MRT station, takes precedence.

Mr Tan added that small-format units are a consequence of high property prices, and as long as prices continue to rise, more of such units can be expected.

Kim Eng Research analyst Ooi Yi Tung said shoebox units offer an alternative to buyers who are priced out of the larger private property market and ineligible for Housing Board flats, or reject public housing for its perceived lower quality and lack of facilities.

Shoebox units also achieve slightly better rental yields than larger units because of their lower prices. Robertson Edge, for example, fetches a rental yield of 6.6 per cent, while the average yield for a centrally located condominium is 3 per cent to 4 per cent, he said.

Mr Ching Chiat Kwong, chief executive of property developer Oxley Holdings, said that as small units have affordable prices, buyers need not take huge loans and do not need to fear interest rate hikes, unlike buyers of units with larger price tags and heftier loans.

Oxley is a prominent developer of shoebox apartments, which will make up about half of the up to nine projects it expects to launch within the next six months.

Buyers of its units have included not only investors, who target the expatriate singles market, but also owner-occupiers who are mostly singles, young couples and some retirees who desire the ease of maintaining a small home, Mr Ching said.

He added: 'Although young people are mobile and seek an independent lifestyle, they like to live near their parents. So it's not surprising that you see people buying small units in suburban mature areas to be near their parents.'

But risks remain, as shoebox units are more vulnerable during an economic downturn, should the expatriate tenant population shrink.

Said Mr Ong: 'During challenging economic times, it's likely that local professionals will be cautious in spending, including on accommodation. There may be some who will choose to stay with their families until the economy shows strong signs of recovery.'

esthert@sph.com.sg
Source: The Straits Times © Singapore Press Holdings Ltd. Reprinted with permission