Singapore “shoebox” properties reviewed.

With the increasing trend of developer building more shoebox units, URA has revised the guidelines to curb the over building and supply of shoebox units in the suburban areas, capping the maximum number of units that are allowed outside the central area of Singapore.

Shoebox units sold in the second quarter make up for about 19% of the property sales in the second quarter. The government is closely monitoring the trend for shoebox units and may further review its regulation if needed. Analysts expect prices for shoebox properties to moderate in the coming months.

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