Uptick in shophouse sales attests to niche appeal

THE shophouse market seems to be showing some buzz in sales - perhaps a final burst of activity before a year-end wind-down.

Recent deals include two acquisitions in the Duxton area totalling S$13.7 million; the buyer is believed to be Spanish tycoon Ricardo Portabella Peralta, who a couple of months ago paid S$18.2 million for a pair of adjoining shophouses along Telok Ayer Street.

This time around, Mr Peralta is acquiring a property along Duxton Hill, with a land area of 1,218 sq ft, for S$9.4 million and another shophouse on a 1,076 sq ft site on Duxton Road for S$4.3 million. The two properties are on sites with respective balance lease terms of slightly more than 70 years.