Singapore’s property market boasts some varied clusters of charming and iconic dwellings scattered round the island state. Referred to as shophouses, these two- or three-storey colonial-era buildings were largely neglected during the past while they became old and run-down, but in recent times they've increasingly been gaining new-found appeal with buyers.
Based on Colliers International, total shophouse transactions inside the first 1 / 2 of 2018 found approximately $576.2 million, surpassing full-year shophouse investment sales from 2014 to 2017. Noting how shophouses are scarce in supply and frequently can be used for either commercial or hospitality purposes, agreement advisory states that they're going to likely always attract interest from local and foreign high value individuals along with property funds and investment companies.
The primary reason just for this trend is based on the increased autonomy and greater control that shophouses offer. This permits operators to have their own street frontage, select their operating hours, have more flexibility regarding layouts and consequently create clusters which experts claim drive footfall.
Other benefits of opening up inside a shophouse could be the ability to stand out aesthetically as compared to cookie-cutter retail mall shopfronts.
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