Singapore’s property market boasts some varied clusters of charming and iconic dwellings scattered around the island state. Called shophouses, these two- or three-storey colonial-era buildings were largely neglected in the past as they became old and run down, in the past few years they've increasingly been gaining new-found appeal with buyers.
As outlined by Colliers International, total shophouse transactions from the first half of 2018 came to approximately $576.2 million, surpassing full-year shophouse investment sales from 2014 to 2017. Noting how shophouses are scarce in supply and frequently bring either commercial or hospitality purposes, real estate advisory claims that they will likely carry on and attract interest from local and foreign high net worth individuals along with property funds and investment companies.
The primary reason with this trend is in the raised autonomy and greater control that shophouses offer. This allows operators to get their own street frontage, select their operating hours, convey more flexibility regarding layouts and consequently create clusters which experts claim drive footfall.
Other advantages of checking in a shophouse may be the ability to stand out aesthetically when compared with cookie-cutter retail mall shopfronts.
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