Average price of freehold shophouses jumps 10.1% YoY in 2023

The average price reflects a total transaction sales value of $948.0m.

Freehold shophouse units now cost $5,354 psf on land, on average or 10.1% higher than last year.

According to Knight Frank, the average price of freehold shophouses reflects the total transaction sales value recorded in 2023 of $948.0m.

Meanwhile, freehold shophouses accounted for 79.5% (105 units) of the total transacted volume in 2023.

The recent figure, however, translates to a 31.4% decline from 2022.

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