COMMERCIAL PROPERTY | Staff Reporter, Singapore

Shophouse sales up 30% to $183.2m in Q4

56 Pagoda Street was sold for $23m.

Shophouse transactions above $5m grew 30% QoQ to $183.2m in Q4, Colliers International revealed.

According to a report, the total shophouse transactions in 2017 hit a new high of $795.1m since 2013's $855.9m.

Colliers managing director Tang Wei Leng said, "With a positive outlook for residential and commercial property sectors, shophouses which are hybrids of these sectors and are scarce in supply, should remain an attractive asset class for boutique investors."

Major shophouse transactions included 56 Pagoda Street sold for $23m, 167/169 - 169D Selegie Road sold for $20m, and 38 & 39 Craig Road sold for $18m.

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