Singapore’s property market boasts some varied clusters of charming and iconic dwellings scattered across 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 shabby, in modern times they've increasingly been gaining new-found appeal with buyers.
In accordance with Colliers International, total shophouse transactions from the first 1 / 2 of 2018 stumbled on approximately $576.2 million, surpassing full-year shophouse investment sales from 2014 to 2017. Noting how shophouses are scarce in supply and often can be used either commercial or hospitality purposes, real estate advisory says that they are going to likely still attract interest from local and foreign high value individuals in addition to property funds and investment companies.
The reason why with 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 consequently create clusters which drive footfall.
Other benefits of examining in a shophouse could be the ability to stick out aesthetically when compared with cookie-cutter retail mall shopfronts.
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