Singapore’s property market boasts some varied clusters of charming and iconic dwellings scattered throughout the island state. Generally known as shophouses, these two- or three-storey colonial-era buildings were largely neglected during the past since they became old and run-down, however in the past few years they've increasingly been gaining new-found appeal with buyers.
Based on Colliers International, total shophouse transactions from the first 50 % of 2018 located approximately $576.2 million, surpassing full-year shophouse investment sales from 2014 to 2017. Noting how shophouses are scarce in supply and sometimes bring either commercial or hospitality purposes, agreement advisory states that they are going to likely carry on and attract interest from local and foreign high net worth individuals along with property funds and investment companies.
The reason just for this trend is in the increased autonomy and greater control that shophouses offer. This gives operators to get their own street frontage, select their operating hours, convey more flexibility when it comes to layouts and ultimately create clusters which in turn drive footfall.
Other important things about examining within a shophouse is the capability to stand out aesthetically as compared with cookie-cutter retail mall shopfronts.
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