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#1

Posted 05 September 2012 - 10:27 AM

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http://business.asia...904-369547.html

Government to intervene in market for shoebox apartments

From November 4, new guidelines will be introduced to prevent a disproportionately large portion of small units in the housing market.

Tue, Sep 04, 2012
AsiaOne

The number of units which can be developed on non-landed suburban private residential developments will soon be restricted, the Urban Redevelopment Authority (URA) said today.

From November 4, new guidelines to curb the development of shoebox units outside the central area will take effect.

The decision to impose guidelines on the development of shoebox apartments stems from the need to prevent a disproportionately large portion of small units in the housing market, URA said.

In a statement released on Tuesday, the authority added that it had been monitoring public feedback on the development of shoebox units in non-central areas of Singapore.

According to URA data, the number of shoebox units will increase by more than four times from 2,400 at the end of 2011 to about 11,000 units by the end of 2015.

In its survey, URA found that shoebox apartments were more popular among small households and singles and that their development is useful in meeting diverse lifestyle choices.

On the other hand, the smaller units are not conducive for couples with children and larger families.

The government has also observed that an increasing proportion of new developments consist predominantly of shoebox units. Some developments have a shoebox unit proportion as high as 80 per cent, the URA said.

Furthermore, strains on local road infrastructure could result from the excessive development of shoebox units in non-city areas.

Minister of National Development Khaw Boon Wan had on previous ocassions warned that the Government would not hesitate to intervene in the shoebox apartment market should there be any signs of unsustainable investor demand.

Commenting on the URA's new guidelines to curb shoebox unit developments, Mr Khaw said that although the regulators try not to intervene in the market, some intervention is needed if the market outcome contradicts public interest.

In a September 4 post on the Ministry for National Development (MND) blog, the minister said: "Unlike the central area, the suburbs are largely for families. While there is a need for smaller units...too many in the same locality cannot be optimal."

He also added that the new URA guidelines will be "moderate" and assured that the demand for shoebox units will not be neglected.

Citing previous times when the authorities received good response for intervening in the property market, Khaw says that he is confident that the new guidelines will be welcomed by both developers and property buyers.

ljessica.com.sg



#2

Posted 05 September 2012 - 10:30 AM

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CB lah..you and AHTONG can prost properly anot....if not ppl dunno wt the fark u tokking...knn

this is one of the reasons lor, why ppl repost and repost threads...... dry.gif dry.gif dry.gif


next time no clear tio card hor....
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#3

Posted 05 September 2012 - 10:37 AM

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blush.gif ok ok blush.gif

#4

Posted 05 September 2012 - 10:46 AM

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mickey mouse no more house
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#5

Posted 05 September 2012 - 11:22 AM

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CB lah..you and AHTONG can prost properly anot....if not ppl dunno wt the fark u tokking...knn

this is one of the reasons lor, why ppl repost and repost threads...... dry.gif dry.gif dry.gif


next time no clear tio card hor....


I can understand the post. Is the thread title the problem ?

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#6

Posted 05 September 2012 - 11:23 AM

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it was edited for better reflection
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#7

Posted 05 September 2012 - 11:28 AM

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it was edited for better reflection

thank you. if not, sound like minnie mouse give micky mouse green cap laugh.gif laugh.gif laugh.gif

become porn from disney.

back to topic.

long time should kurb liao. now then come out.

Edited by Joseph22, 05 September 2012 - 11:29 AM.

Those who are for a cleaner MCF, change your avatar to a empty black image.

#8

Posted 05 September 2012 - 11:30 AM

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thank you. if not, sound like minnie mouse give micky mouse green cap laugh.gif laugh.gif laugh.gif

become porn from disney.


and those who no see night or day before the edit think otherwise.... dry.gif dry.gif
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#9

Posted 05 September 2012 - 11:44 AM

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Why should URA intervene if there's a demand for these apartments? Should be left to free market forces to decide.

#10

Posted 05 September 2012 - 11:45 AM

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Why should URA intervene if there's a demand for these apartments? Should be left to free market forces to decide.


u think u Khaw Boon Wan ah dry.gif dry.gif dry.gif
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#11

Posted 05 September 2012 - 11:47 AM

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I don't know... might be a good think for these mickey mouse apts owners. With the cap, they can be assured for now that there won't be an oversupply of similar units which will erode their rental potential. Though in my opinion, there already is an oversupply of mickey mouse apts in the suburban areas.
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#12

Posted 05 September 2012 - 11:47 AM

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Why should URA intervene if there's a demand for these apartments? Should be left to free market forces to decide.


Yeap, this kind of things they also want to control...
Should spend the time and effort push for lower HDB prices for Singaporeans.

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#13

Posted 05 September 2012 - 11:47 AM

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No and I wouldn't wanna be him biggrin.gif

#14

Posted 05 September 2012 - 11:48 AM

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I don't know... might be a good think for these mickey mouse apts owners. With the cap, they can be assured for now that there won't be an oversupply of similar units which will erode their rental potential. Though in my opinion, there already is an oversupply of mickey mouse apts in the suburban areas.


Mickey mouse or not... still doesn't make sense to artificially control the market. Just my opinion only

#15

Posted 05 September 2012 - 11:50 AM

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Why should URA intervene if there's a demand for these apartments? Should be left to free market forces to decide.


the demand is fueled by speculators. earning power has not moved in tandem with prices, so a lot of people have effectively been locked out of the markets, since the apartments commands a higher PSF for a very tiny apartment.

you're also forgetting the congestion, parking issues etc that come with packing more people into smaller spaces.

#16

Posted 05 September 2012 - 11:50 AM

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Mickey mouse or not... still doesn't make sense to artificially control the market. Just my opinion only

must be you buy alot of unts there liao laugh.gif
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#17

Posted 05 September 2012 - 11:52 AM

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must be you buy alot of unts there liao laugh.gif


no lah, if he bought, he would be shouting ho sei liao!!!! laugh.gif biggrin.gif laugh.gif

#18

Posted 05 September 2012 - 11:52 AM

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Yeap, this kind of things they also want to control...
Should spend the time and effort push for lower HDB prices for Singaporeans.


Cos HDB is not under the purview of URA mah though both are still under MND biggrin.gif
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#19

Posted 05 September 2012 - 11:56 AM

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Mickey mouse or not... still doesn't make sense to artificially control the market. Just my opinion only


Yup, do agree from your perspective but I believe URA intervened cos many of those who bought these mickey mouse apts are investors/speculators who r over-leveraged. If this segment collapse, it might affect the other property sectors. Afterall, with property prices at all time high, this would also mean most property buyers are over-leveraged as well. If the property market tanks, it would be jialat jialat for the economy.
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#20

Posted 05 September 2012 - 12:00 PM

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Why should URA intervene if there's a demand for these apartments? Should be left to free market forces to decide.

Bec cheng hu scared that mickey mouse piak piak no baby mah. they want the non-mickey piak piak got baby come out type. ohmy.gif


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