COTD: Shophouse transactions fall 20% QoQ and 56% YoY in Q3

Transaction value fell alongside volume.

Shophouse transactions fell 20% QoQ and 56% YoY to 16 deals in Q3 2024, PropNex reported.

The value of shophouse deals likewise contracted, dropping by 3.5% QoQ and 56.4% YoY to $121.6m.

PropNex, however, said that Q3 sales could be higher, as there has been a resurgence in shophouse transactions.

According to the expert, many transactions are not reflected in URA data, as buyers often avoid filing caveats or conducting sales through special-purpose vehicles.

Atland House, a five-storey mixed-use shophouse on Bukit Timah Road, was the highest caveated sale in Q3 2024, fetching $17m in August.

Other top deals in Q3 included a four-storey shophouse on North Bridge Road and three adjoining shophouses near Bugis Cube sold for $42m and $72m, respectively.

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