Singapore’s property market boasts some varied clusters of charming and iconic dwellings scattered round the island state. Referred to as shophouses, these two- or three-storey colonial-era buildings were largely neglected previously as they became old and rundown, but also in the past few years they've increasingly been gaining new-found appeal with buyers.
As outlined by Colliers International, total shophouse transactions within the first 50 % of 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 quite often bring either commercial or hospitality purposes, real estate advisory says that they'll likely still attract interest from local and foreign high net worth individuals as well as property funds and investment companies.
The reason why just for this trend depends on the raised autonomy and greater control that shophouses offer. This gives operators to get their own street frontage, select their operating hours, have an overabundance flexibility when it comes to layouts and consequently create clusters which in turn drive footfall.
Other great things about checking in the shophouse may be the power to stand out aesthetically when compared with cookie-cutter retail mall shopfronts.
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