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 previously since they became old and run-down, but in modern times they've increasingly been gaining new-found appeal with buyers.
As outlined by Colliers International, total shophouse transactions inside the first half 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 claims that they are going to likely still attract interest from local and foreign high value individuals along with property funds and investment companies.
The reason because of this trend depends on the improved autonomy and greater control that shophouses offer. This allows operators to get their own street frontage, select their operating hours, have an overabundance of flexibility with regards to layouts and ultimately create clusters which experts claim drive footfall.
Other important things about checking within a shophouse is the capacity to stand out aesthetically as compared to cookie-cutter retail mall shopfronts.
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