Singapore’s property market boasts some varied clusters of charming and iconic dwellings scattered across the island state. Called shophouses, these two- or three-storey colonial-era buildings were largely neglected in the past since they became old and run down, however in the past few years they've increasingly been gaining new-found appeal with buyers.
In accordance with Colliers International, total shophouse transactions within the first 50 % of 2018 located 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, the property advisory claims that they'll likely still attract interest from local and foreign high net worth individuals and also property funds and investment companies.
The key reason with this trend is in the increased autonomy and greater control that shophouses offer. This permits operators to obtain their own street frontage, select their operating hours, have more flexibility regarding layouts and eventually create clusters which experts claim drive footfall.
Other great things about opening up within a shophouse may be the capacity to be noticeable aesthetically when compared with cookie-cutter retail mall shopfronts.
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