Lower rates underpin 17.4% shophouse transaction value growth in 2025

Huttons said average deal sizes increased as borrowing costs fall.

Shophouse transaction value rose 17.4% year on year (YoY) to $802.8m in 2025, as lower interest rates coincided with improved market sentiment, according to a report by Huttons.

Huttons said sentiment improved alongside Singapore’s estimated 4.8% economic growth in 2025 and a decline in the three-month compounded Singapore Overnight Rate Average (SORA) by 1.8 percentage points to 1.1891%, creating a positive carry environment for investors.

An estimated 90 shophouses were transacted during the year, up 7.1% from 84 deals in 2024, while the average transaction quantum increased 9.6% to $8.9m.

More than 90% of shophouses sold were priced below $15m, with a rising number of transactions in the $5m to below $10m range due to higher asking prices.

Districts 8 and 15 accounted for more than 45% of total transaction volume, while 86.7% of shophouses sold were on 999-year or freehold land.

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