Full-year sales of shophouse market to hit below $2.0b

In H1, sales value was at $938.8m.

Sales of the shophouse market will likely be just under $2.0b for the whole of 2022, according to property expert, Knight Frank.

In a report, the expert said that whilst H1 saw a total sales value of $938.8m, the supply in the market remains limited.

On the flip side, Knight Frank said the market could still see another wave of demand from investors who were previously restricted by travel measures.

“This might include family offices from around the region,” said Knight Frank.

The expert added that since commercial properties are not subject to the Additional Buyer’s Stamp Duty (ABSD) and Seller’s Stamp Duty (SSD), investors’ interest in shophouses will likely remain for the rest of the year.

“Despite being vulnerable to external headwinds, Singapore offers a safe and low-risk environment for investors who may be looking to shelter against economic uncertainties,” Knight Frank said.

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