Singapore’s property market boasts some varied clusters of charming and iconic dwellings scattered across the island state. Called shophouses, these two- or three-storey colonial-era buildings were largely neglected previously because they became old and rundown, in modern times they've increasingly been gaining new-found appeal with buyers.
According to Colliers International, total shophouse transactions in the first half 2018 stumbled on approximately $576.2 million, surpassing full-year shophouse investment sales from 2014 to 2017. Noting how shophouses are scarce in supply and often bring either commercial or hospitality purposes, the real estate advisory claims that they're going to likely always attract interest from local and foreign high net worth individuals and also property funds and investment companies.
The primary reason with this trend depends on the raised autonomy and greater control that shophouses offer. This enables operators to acquire their own street frontage, select their operating hours, have an overabundance of flexibility regarding layouts and consequently create clusters which in turn drive footfall.
Other great things about opening up in the shophouse could be the power to stand out aesthetically as compared with cookie-cutter retail mall shopfronts.
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