Singapore’s property market boasts some varied clusters of charming and iconic dwellings scattered around the island state. Known as shophouses, these two- or three-storey colonial-era buildings were largely neglected in the past because they became old and run down, in recent years they've increasingly been gaining new-found appeal with buyers.
In accordance with Colliers International, total shophouse transactions in the first half 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 frequently can be used either commercial or hospitality purposes, the property advisory says that they'll likely carry on and attract interest from local and foreign high net worth individuals and also property funds and investment companies.
The reason with this trend lies in the elevated autonomy and greater control that shophouses offer. This permits operators to obtain their own street frontage, select their operating hours, convey more flexibility with regards to layouts and ultimately create clusters which often drive footfall.
Other important things about checking inside a shophouse is the capacity to jump out aesthetically in comparison with cookie-cutter retail mall shopfronts.
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