The surge in interest for shoebox units has resulted in more shoebox units rented out, according to media reports.
Based on Square Foot Research, non-landed rental contracts surge 11.6% to 12,352 deals last year compared to the previous quarter. Although shoebox units, defined as units below 500 sqft have only a small share in the rental market, the volume of shoebox rental units account for 26% of rental growth from 1st Quarter 2012 to 1st Quarter 2013.
The increase in rental deals for shoebox units is attributed mainly to the increase in the number of shoebox units available as well as shrinking budget of private companies sourcing for rental lease for their employees.
Although the location of the shoebox unit remain the primary factor in the demand for the rental. Jurong West Condo is very near to Lakeside MRT. Also, with the upcoming new shopping malls in the Jurong East Area. Demand for Jurong West Condo New Launch should be very robust.