Value of shophouse deals rises 8% in 2015
Market watchers note there has been heightened interest for these heritage properties from ultra high net worth investors and family funds
Add BT as a preferred source
Singapore
THE value of shophouse transactions last year reached S$655.6 million, up 8 per cent from S$606.2 million in the previous year. However the number of transactions eased in 2015; a total of 103 caveats were lodged last year - down from 112 in 2014, suggesting bigger-ticket shophouses changed hands last year.
Some market watchers told The Business Times that there has been heightened interest for this property asset class from ultra high net worth investors and family funds, some prepared to accept low entry yields of just 2-3 per cent (on a gross basis) with an eye to capital appreciation in the medium to long term.
Copyright SPH Media. All rights reserved.
