Geylang condo Singapore: Learn about Shoebox condo units concept

As for Geylang condo Singapore area, it is home to many Freehold projects, and many condominiums offer shoebox units. An earlier research report showed that the average size of private homes will decrease from an average size of 1,083 square feet (sq ft) to 840 sq ft by 2030 - a 20% reduction in area. And in focus are shoebox apartment units. Defined as a dwelling unit measuring 50 square meters (528 sq ft) or less, shoebox apartments have seen their average price per square foot (psf) increase by 14.16%.

Not just Geylang condo, housing in Singapore is shrinking - for both HDB apartments as well as private apartments. Comparing the size of HDB apartments of the 1980s with the 2000s, the data shows that 3-room apartments were 69 square meters then compared to 65 square meters today. Then, the 4-room apartment was 105 square meters then compared to 90 square meters now, while the 5-room apartment then was 123 square meters compared to 110 square meters today.

If you are interested in Shoebox condo units at Geylang condo Singapore, you can explore similar projects here, maybe you will find the right one!

Shoebox style apartments at Geylang condo Singapore tend to combine living room and connected kitchen spaces. Source: Internet.

It seems that nowadays, for most Singaporeans, the term “Shoebox condo units” or “compact unit” is synonymous with real estate investment. Indeed, single-bed rental is how many homeowners get their start in their real estate portfolio. What is less well known, however, is that shoebox units also attract retirees or couples with children who have moved out.

Besides retirees, shoebox units at Geylang condo Singapore can also suit couples without children, or for lifelong singles; they can be used more as rental units for single foreigners. This type of apartment has a relatively affordable price for small families or single people, you can refer to details before buying a similar apartment.

Why are Shoebox condo units at Geylang condo Singapore attractive to buyers?

All Shoebox condo units at Geylang condo Singapore are Freehold units, so there is no distinct advantage in land condition. In addition, the apartments were mostly completed in 2014 or 2015, with the exception of Primedge, which was completed in 2017. Development versions usually have less than 100 units, with the exception of Rezi 26, which has 106 units, and Guillemard Edge with 275 units. In addition, the units are located near 2 MRT stations, Aljunied and Dakota, in the vicinity, and the distance to either MRT station for the apartments ranges from 540 m to 650 m. The properties are pretty much the same for all, but the PSF price is slightly higher for Guillemard Edge, Primedge and The Water Edge.

Currently, NoMa condo is one of the attractive Shoebox units for homebuyers in the Geylang area today. Currently, NoMa condo is one of the attractive Shoebox units for homebuyers in the Geylang area today. This is an upcoming exclusive freehold project in District 14, strategically located along Guillemard Road. The newest free apartment complex consisting of 50 exclusive apartments from Singapore's leading developer, Macly Group, will provide a spectacular array of connections around the Geylang neighbourhood.

Shoebox style apartments at Geylang condo Singapore tend to combine living room and connected kitchen spaces. Source: Internet.

Why do most Singaporeans go to shoebox apartments? As this is often the first choice for new buyers, be it a home owner or an investor. Shoebox apartments typically cost $1 million or less. If you don't have a lot of resources on hand but you still want to invest in private real estate, then this might be your best bet. A shoebox can be purchased for an average of $616,217 in 2010; today, the average would be around $820,184, a 33.1% increase.

Now, you'll notice that shoebox units cost much more per square foot. This is a general truth of the real estate market everywhere: the smaller the home, the more you pay per square foot (a very large property, like a bungalow, will in fact cost over per square foot lower than most shoebox units).

Shoe box apartment is suitable for people with low income. Source: Internet.

However, this comes with a very low cost of area and limited living space. As a result, shoebox units are better for homebuyers who value location and facilities more than a larger home. Examples could be lifelong singles or retirees (e.g., instead of downgrading from a five-room apartment to a smaller one, they could actually upgrade to a smaller one after the moving out separately).

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