Singapore’s once-hot shophouse market cools after money laundering bust 

FEWER shophouses changed hands in the third quarter of 2023, as foreign buyers take a breather following the S$2.8 billion money laundering crackdown in August. 

There were 37 shophouses sold in Q3, based on data from the Urban Redevelopment Authority compiled by Huttons Asia. This was some 21.3 per cent lower than in the previous quarter, but still higher than the 36 in the year-ago period.

Transaction value fell by 26.6 per cent to S$317.1 million from S$432.3 million in Q2, a Huttons report published on Friday (Nov 10) showed.