Singapore’s property market boasts some varied clusters of charming and iconic dwellings scattered throughout the island state. Known as shophouses, these two- or three-storey colonial-era buildings were largely neglected previously while they became old and run-down, but also in recent years they've increasingly been gaining new-found appeal with buyers.
As outlined by Colliers International, total shophouse transactions in the first 1 / 2 of 2018 came to approximately $576.2 million, surpassing full-year shophouse investment sales from 2014 to 2017. Noting how shophouses are scarce in supply and often bring either commercial or hospitality purposes, the real estate advisory states that they're going to likely always attract interest from local and foreign high value individuals in addition to property funds and investment companies.
The primary reason with this trend is based on the increased autonomy and greater control that shophouses offer. This allows operators to get their own street frontage, select their operating hours, convey more flexibility with regards to layouts and eventually create clusters which in turn drive footfall.
Other advantages of opening up within a shophouse is the capacity to stand out aesthetically as compared to cookie-cutter retail mall shopfronts.
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