Singapore’s property market boasts some varied clusters of charming and iconic dwellings scattered throughout the island state. Generally known as shophouses, these two- or three-storey colonial-era buildings were largely neglected during the past since they became old and run-down, but in recent times they've increasingly been gaining new-found appeal with buyers.
Based on Colliers International, total shophouse transactions inside the first half 2018 found 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, agreement advisory claims that they are going to likely still attract interest from local and foreign high value individuals and also property funds and investment companies.
The reason why for this trend is based on the increased autonomy and greater control that shophouses offer. This gives operators to get their own street frontage, select their operating hours, have an overabundance of flexibility when it comes to layouts and finally create clusters which experts claim drive footfall.
Other benefits of checking inside a shophouse could be the capability to stick out aesthetically when compared with cookie-cutter retail mall shopfronts.
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