Singapore shophouse deals drop 43% to $169m in Q1 | Real Estate Asia
, Singapore

Singapore shophouse deals drop 43% to $169m in Q1

The largest deal was worth $47.5m.

In a report, Cushman and Wakefield said Singapore shophouses continued to appeal to investors, such as high net-worth individuals, for wealth preservation and diversification due to their palatable quantum and potential for capital appreciation. 

Island wide shophouse total transaction volume rose 54.9% qoq to $169.1m in Q1 2024, based on caveats lodged as of 1 April 2024, though it declined 43.0% on a yoy basis. 

Here’s more from Cushman and Wakefield:

The largest shophouse deal was reportedly the sale of three adjoining shophouses on Duxton Road for $47.5m (caveats not lodged for this transaction). Based on caveat data, a significant shophouse transaction was 223,225,227 Geylang Road for $18.7m. Notably, given its value-add potential, this Geylang Road shophouse divestment reaped a capital gain of about 82.0% or $8.0m since its acquisition less than 4 years ago. 

In contrast, strata office volumes remained soft due to a lack of new launches, though prices have been largely stable. 

Industrial assets remained in favour among investors due to their relatively higher yields and favourable long-term prospects. The largest industrial deal was the end-user acquisition of OneTen Paya Lebar, a rare freehold hi-tech industrial building with approval for data centre use, for $140m. The sale highlights the robust interest for data centre assets in Singapore amidst limited supply.


Join Real Estate Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!