News

Commercial Property

Staff Reporter

, Singapore

Published:

2 years ago

Photo by Priscilla Lim on Unsplash

Shophouse transaction volume drops 49.3% QoQ in Q3

Despite lower volume, transaction value rose 31.6% QoQ to $330.1m.

Whilst the number of shophouses transacted in Q3 was 49.3% lower quarter-on-quarter, total transaction value during the period stll tose 31.6% QoQ to $330.1m.

The total transaction value translates to an average of $9.7m per shophouse.

By tenure, freehold shophouses were the most popular for the quarter with 25 sold, followed by 99-year (5) and 999-year (4).

By area, Huttons said The Rochor planning area which encompasses Little India and Jalan Besar was the most popular amongst investors.

"Many investors have shifted their focus to Joo Chiat / Kampong Glam / Jalan Besar area, to find more reasonable price shophouses to enhance the tenant mix & rental return," Huttons said.

"Interest in shophouses remained high. There is no new supply and existing owners are holding onto their prized assets unless they receive a compelling offer. Family offices are keen to invest in this asset class for wealth preservation," Huttons added.

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Huttons Asia

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