Singapore’s property market boasts some varied clusters of charming and iconic dwellings scattered around the island state. Referred to as shophouses, these two- or three-storey colonial-era buildings were largely neglected in the past because they became old and rundown, but in recent years they've increasingly been gaining new-found appeal with buyers.
Based on Colliers International, total shophouse transactions from the first 50 % of 2018 stumbled on approximately $576.Two million, surpassing full-year shophouse investment sales from 2014 to 2017. Noting how shophouses are scarce in supply and often can be used as either commercial or hospitality purposes, the property advisory claims that they'll likely always attract interest from local and foreign high net worth individuals as well as property funds and investment companies.
The reason for this trend is in the elevated autonomy and greater control that shophouses offer. This enables operators to have their own street frontage, select their operating hours, convey more flexibility regarding layouts and ultimately create clusters which in turn drive footfall.
Other advantages of examining in the shophouse is the capability to stand out aesthetically when compared with cookie-cutter retail mall shopfronts.
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