Sales of small non-landed private properties in Singapore have hit an all-time high, even before the year has ended.
According to property consultant CB Richard Ellis, 412 units with a size of 500-square-feet or smaller have been sold this year so far.
This is a stark contrast to 1995, when just one unit of that size was sold.
CBRE said it has seen a rising trend in the popularity of such small homes – about 170 were sold in 2006, 275 in 2007 and close to 300 last year.
Sales of homes sized between 500 and 800 square feet have also hit a record high, with 908 units sold so far this year.
CBRE said these small units are forming a large proportion of the burgeoning sales volume seen in recent months.
Source : Channel NewsAsia – 6 Oct 2009