In recent years, purchasing a condo in Singapore has become a highly sought-after investment option for locals and foreigners alike. This is largely due to the country’s thriving economy, stable political climate, and exceptional quality of life. With a flourishing real estate market, there are countless opportunities for investors, and condos in particular are a popular choice due to their convenience, amenities, and potential for strong returns. If you are considering investing in a condo in Singapore, read on to discover the advantages, important factors to consider, and necessary steps to take. Additionally, keep an eye out for New Condo Launches to ensure you are up-to-date on the latest developments in the market.
Real estate market sentiment in Singapore remains strongDespite the COVID-19 pandemic, Singapore’s property market has remained resilient, with strong demand from both local and foreign buyers. The shophouse market, in particular, has been performing well, with a total of 84 caveated transactions in 2020, according to Huttons Asia.Proprietary director of real estate agency Chris International, Chris Koh, attributes this to the limited supply of shophouses and their potential for good rental yields. He also notes that shophouses have become increasingly popular among investors as a form of alternative asset class.With the ongoing attractiveness and demand for shophouses, the Jalan Besar shophouse presents a prime investment opportunity for potential buyers looking to enter the market or add to their portfolio. This rare 999-year leasehold corner two-storey shophouse with an attic, located at 209 Jalan Besar, is currently available for purchase through private treaty. According to Gracelynn Zhu, marketing agent for PropNex Shophouse Elites, the property is listed for “below $20 million.”
This gem boasts a total area of approximately 5,502 square feet and is zoned for commercial use. The first floor is approved for restaurant use, while a portion of the second floor is also designated for the same purpose. At a price of $20 million, the property’s average price per square foot works out to be $3,635 based on the floor area.
Situated in the Desker Road Conservation Area in District 8, the property is strategically located near Little India. Residents will enjoy the convenience of being within walking distance to the Jalan Besar MRT Station on the Downtown Line. Additionally, the property is currently undergoing asset enhancement initiatives (AEI), which include the installation of micro piles that extend 30 meters to improve its structural foundations. The AEI is expected to be completed by the end of this year.
The demand for shophouses in Singapore has remained strong despite the challenges brought about by the COVID-19 pandemic. According to Huttons Asia, there were a total of 84 caveated shophouse transactions in 2020 alone. Chris Koh, the proprietary director of real estate agency Chris International, attributes this to the limited supply of shophouses and their potential for good rental yields. He also highlights the growing popularity of shophouses as an alternative asset class among investors.
Given the ongoing attractiveness and demand for shophouses, the 209 Jalan Besar shophouse presents an excellent investment opportunity for potential buyers. Don’t miss out on this rare chance to own a 999-year leasehold corner two-storey shophouse with an attic in one of Singapore’s most sought-after locations. Contact Gracelynn Zhu of PropNex Shophouse Elites today to schedule a viewing and make your offer.