URA move to cap shoebox units may lead to lower condo prices

Prices of private apartments and condominiums outside the central area may come under pressure with the Government’s move to reverse the trend of developers building more and more shoebox units, say market experts. The Urban Redevelopment Authority (URA) announced on Wednesday that it will cut the maximum number of units allowed in new private flat and condo developments outside the central area from early next year, in a bid to manage potential strains and stresses on infrastructure. The new guidelines will apply to new development applications for projects submitted on or after Jan 17…

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