Singapore’s property market boasts some varied clusters of charming and iconic dwellings scattered round the island state. Called shophouses, these two- or three-storey colonial-era buildings were largely neglected before as they became old and run down, however in the past few years they've increasingly been gaining new-found appeal with buyers.
According to Colliers International, total shophouse transactions in the first 50 % 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 frequently can be used either commercial or hospitality purposes, real estate advisory states that they are going to likely still attract interest from local and foreign high net worth individuals in addition to property funds and investment companies.
The key reason just for this trend depends on the improved autonomy and greater control that shophouses offer. This enables operators to acquire their own street frontage, select their operating hours, have an overabundance flexibility regarding layouts and consequently create clusters which drive footfall.
Other benefits of examining inside a shophouse could be the capability to jump out aesthetically as compared to cookie-cutter retail mall shopfronts.
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