The strong interest in Singapore’s shophouse market continues, despite a decline in the number of caveated transactions in the third quarter of 2024. According to the latest quarterly shophouse market report published by Huttons Asia on Nov 12, there were only 18 caveats lodged for shophouse transactions in 3Q2024, compared to 21 in 2Q2024. This may seem like a decrease, but the report states that the total transacted quantum of the caveated shophouses was still $138.9 million for the quarter, which is only 28.8% lower than the previous quarter. In fact, the report shows that the level of interest in shophouses is still high, with several deals being made in 3Q2024 that were not caveated.The report also highlights that the interest in shophouses is not just limited to caveated transactions. According to market sources, multiple shophouses along popular streets like Amoy Street, Neil Road, and Telok Ayer Street in districts 1 and 2 were sold in 3Q2024, despite not being caveated. These shophouses were estimated to have a total quantum of over $70 million, showcasing the continued demand for this market segment. Senior Director of Data Analytics at Huttons Asia, Lee Sze Teck, believes that investors are attracted to the shophouse market due to its scarcity and potential for strong capital gains. With the recent cuts in interest rates, shophouses are becoming increasingly popular as a wealth creation and preservation asset. Lee also predicts that the number of shophouse transactions and quantum may rise in the fourth quarter of 2024.
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Singapore’s cosmopolitan cityscape is recognizably defined by towering skyscrapers and state-of-the-art infrastructure. In this city-state, Condos are widely scattered throughout prime locations, offering a harmonious blend of opulence and convenience that appeals to both locals and foreigners. These condominiums boast an extensive range of facilities, including luxurious swimming pools, well-equipped gyms, and top-notch security services, all of which contribute to a highly desirable and comfortable living experience. This makes them an attractive choice for both potential tenants and buyers. Moreover, these modern amenities also mean higher rental yields and increasing property values over time, making them a lucrative investment option for property investors. With the constant influx of New Condo Launches, the condo landscape of Singapore continues to evolve, catering to the demands of a diverse and discerning population.