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Thread: Shoebox units not a threat to property market

  1. #1
    Join Date
    May 2012
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    Default Shoebox units not a threat to property market


  2. #2
    Join Date
    Mar 2012
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    495

    Default

    Good one...

    THE report ('Tiny 'shoebox', big questions'; Monday) is one of many recent articles that have expressed concerns about the frenzy for shoebox units.


    The arguments against them include encouraging singles to live apart from their parents; driving larger private property prices upwards; and being as risky as penny stocks.



    To put things in perspective:


    - Shoebox units make up about 1 per cent of private housing units in Singapore. How does that pose a threat to the overall well-being of the housing market or the family unit?
    - There is a rental demand for such units, as shown by their take-up rate so far. Expatriate singles, in particular, find such units attractive.
    - Developers have promoted shoebox units as being ideal for singles or couples, and not for families with children. So why are their motives being questioned?


    I agree that the Government should look closely at the growth and proliferation of shoebox units, but they are not a social ill to be reined in, as many seem to suggest.


    Wong Kah Khoon

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