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

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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.

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