Singapore’s property market boasts some varied clusters of charming and iconic dwellings scattered around the island state. Generally known as shophouses, these two- or three-storey colonial-era buildings were largely neglected before since they became old and run down, but in recent times they've increasingly been gaining new-found appeal with buyers.
According to Colliers International, total shophouse transactions inside the first half 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 frequently bring either commercial or hospitality purposes, real estate advisory states that they will likely continue to attract interest from local and foreign high net worth individuals in addition to property funds and investment companies.
The reason why just for this trend lies in the increased autonomy and greater control that shophouses offer. This permits operators to obtain their own street frontage, select their operating hours, convey more flexibility regarding layouts and eventually create clusters which in turn drive footfall.
Other benefits of examining within a shophouse may be the power to be noticeable aesthetically as compared to cookie-cutter retail mall shopfronts.
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