URA counters claims of foreign ownership surge in Kampong Glam

Only one shophouse in Kampong Glam was sold to a foreign buyer in 2024.

The Urban Redevelopment Authority (URA) clarified that local buyers accounted for around three-quarters of shophouse sales in the Kampong Glam area, countering allegations of a surge in foreign ownership. 

In a Facebook post, the URA responded to growing concerns as several sources have suggested that foreigners are purchasing a significant number of conserved shophouses in the area, including those along Haji Lane.

URA said shophouse sale transactions in Kampong Glam have declined by 60% to an average of six transactions per year from 2023 to 2025.

In Haji Lane, transactions declined to zero from 2023 to 2025, from an average of three transactions per year from 2020 to 2022.

Over the past two years, only one shophouse in Kampong Glam was sold to a foreign buyer in 2024, and none in 2025.

“We understand that many heritage businesses are navigating a challenging operating environment, amidst evolving market conditions and changing consumer preferences,” URA said.

“The government remains committed to working closely with stakeholders in the community to address these issues and support the district’s sustainability,” the agency added.