Affordable Shoebox Units (Part 1)
Average asking price: $499,000.
409 square feet, 1 bed, 1 bath
We know what you are thinking. Red light district. Lorong 6 is far from the more sexually liberated areas of Geylang. It is actually within walking distance to the Kallang MRT station. Geylang is also very close to the Central Business District (CBD).
These are not family homes, but they’re shoebox apartments. It’s an opportunity to rent out, but it’s also a great option for expatriates looking for a central location and want to live in one of the more vibrant areas. This unit might be a good choice if you would like to live here.
Potential: You are looking for good CBD access or a rental shoebox. You may also speculate that Geylang might follow the footsteps of Keong Saik and Desker (former red-light areas that have since moved on), and want to get in while it is still cheap. You can also wait as this unit is freehold.
Drawbacks: Geylang is a red-light area. It’s not possible to hide the fact that resale of this unit will be difficult. The unit could end up being a liability, even though it is inexpensive. It’s not a good investment. It is not recommended to be used as a residence by anyone who has no plans to start a family.