26 Mar '15, 12am

Shophouses sizzle amid cool Singapore property market

Shophouses sizzle amid cool Singapore property market

SINGAPORE - Shophouses in Singapore are seeing a surge in investor interest. Their median price has more than doubled from $1,455 psf in the fourth quarter of 2009 to a record of $3,772 psf in the fourth quarter of last year, said real estate consultancy Colliers. Median rents have also risen over the last five years, said Ms Chia Siew Chuin, Colliers' director of research and advisory. Quarterly median rents generally remained below $4 psf per month before 2012, but they hit a record $5.42 psf per month in the fourth quarter of last year Here's a look at the prices reached when some shophouses recently changed hands: 1. 39 Hongkong Street 39 Hong Kong Street. -- PHOTO: ST FILE The property sold for about $17.21 million earlier this month, a record for the Upper Circular Road Conservation Area. It was about $1,899 psf on a gross floor area basis, a price experts called fai...

Full article: http://www.straitstimes.com/news/business/property/story/...

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