The Business Times
business-time-50
SUBSCRIBERS

Fewer transactions, but firmer prices as CBD shophouses hold sway among investors

google-preferred-sourceAdd BT as a preferred source
Samuel Oh

Samuel Oh

Published Thu, Apr 4, 2024 · 05:00 AM
    • Investors look at wealth preservation and capital appreciation when buying shophouses, says Savills Singapore.
    • Investors look at wealth preservation and capital appreciation when buying shophouses, says Savills Singapore. PHOTO: BT FILE

    SALES volumes are down but prices are firm in what is the creme de la creme of the commercial shophouse market – Central Business District (CBD) shophouses.

    The average transacted unit price on land area of CBD shophouses climbed by nearly 18 per cent to S$11,098 per square foot (psf) in 2023 from S$9,434 psf in 2022, said PropNex Realty’s head of research and content, Wong Siew Ying.

    Shophouses in the CBD refer to those that are located in Districts 1 and 2, which include the Downtown Core areas of Raffles Place, Boat Quay, Tanjong Pagar, Neil Road, Kreta Ayer and Chinatown.

    shophousesCommercial propertyRentsSpotlightSpotlight

    TRENDING NOW

    Singtel's full-year EPS stood at S$0.3398, up from S$0.2434 in the previous financial year.

    Singtel H2 net profit down 20.9% at S$2.2 billion; telco open to Aussie minority partner in Optus

    The departure of food manufacturing operations from Singapore may not necessarily be reason for concern.

    Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned

    Evidence showed the parties intended the 99-1 ratio to reflect both their legal and beneficial ownership of the property.

    Apex court rejects resulting trust claim in 99-1 condo dispute

    Singtel group CEO Yuen Kuan Moon says an environment with four telcos is “definitely not sustainable".

    Singtel seeks clarity on participating in telco consolidation after M1-Simba fallout; weighs Reit IPO

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More