Singapore’s property market boasts some varied clusters of charming and iconic dwellings scattered round the island state. Referred to as shophouses, these two- or three-storey colonial-era buildings were largely neglected during the past while they became old and rundown, but also in modern times they've increasingly been gaining new-found appeal with buyers.
Based on Colliers International, total shophouse transactions within the first half of 2018 came to approximately $576.Two million, surpassing full-year shophouse investment sales from 2014 to 2017. Noting how shophouses are scarce in supply and quite often can be used for either commercial or hospitality purposes, the real estate advisory states that they'll likely still attract interest from local and foreign high net worth individuals as well as property funds and investment companies.
The key reason with this trend depends on the increased autonomy and greater control that shophouses offer. This allows operators to obtain their own street frontage, select their operating hours, have more flexibility regarding layouts and eventually create clusters which experts claim drive footfall.
Other advantages of opening inside a shophouse is the capability to stick out aesthetically as compared with cookie-cutter retail mall shopfronts.
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