A recent Night Frank study said that the attempt to rein in the excessive development in shoebox residential units gave mixed results for Shoebox sales outside the CCR.
Shoebox private resident units rose significantly in comparison with and condominium development outside the CCR. This is occurred after the promulgation of the 2012 guidelines released by the Urban Redevelopment Authority in The Vales.
Restriction of Shoebox Units | The Vales EC
The increase in ratio for The Vales is based on data pre-November 2012, when the new guidelines were released and after the release. The timeframe that was measured was 1 1/2 years on either side of that date.
105 projects that were studied showed the proportion of shoebox residences in certain projects increased from 10.5% prior to November 2012 to 12.1% after the November 4 guideline release.
The focus was on units with less than 47 m², which showed an …