Over 80 percent of Oxley Holdings’ Viva Vista development has been snapped up during its private preview, indicating that shoebox units are still a hit in Singapore.
Sizes of the 144-unit project range from 323 sq ft to 1,076 sq ft, with average price starting at $520,000 or $1,450 psf.
The project, which is located on South Buona Vista Road, has over 100 commercial units which are yet to be sold. Market watchers say that shoebox units remain popular with homebuyers, which could be why Oxley launched the project even when most developers are holding back on their sales activity this month.
Separately, about 400 units of the 468-unit The Scala project were sold last month. The good sales were mainly attributed to its affordable price tag, which was around $985,000 for a two-room unit that measures 839 sq ft.
The popularity of shoebox units was first noticed last year, and since then, small units have become more common among many Singaporeans, according to a study by CB Richard Ellis.