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 since they became old and run down, but in the past few years they've increasingly been gaining new-found appeal with buyers.
According to Colliers International, total shophouse transactions in the first half of 2018 found approximately $576.Two million, surpassing full-year shophouse investment sales from 2014 to 2017. Noting how shophouses are scarce in supply and quite often bring either commercial or hospitality purposes, the real estate advisory says that they're going to likely still attract interest from local and foreign high net worth individuals in addition to property funds and investment companies.
The primary reason with this trend lies in the raised autonomy and greater control that shophouses offer. This gives operators to have their own street frontage, select their operating hours, have an overabundance of flexibility in terms of layouts and consequently create clusters which experts claim drive footfall.
Other benefits of checking in the shophouse is the ability to be noticeable aesthetically in comparison with cookie-cutter retail mall shopfronts.
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