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
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.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Luxury private home rents jump in Q1 amid wider market slump: Huttons Asia
Evictions surge in Arizona with housing shortage and rising prices
China property shares firm after Politburo highlights clearing inventory
Dubai billionaire’s children plan to revive troubled world islands
UK commercial real estate lending plunges to lowest in a decade
Hybrid, flexible working set to curb Singapore office usage and rents