Chart of the day: 114 shophouses sold for $938.8m in H1 2022

Sales activity may have dipped however the market shows no sign of slowing.

This chart from Knight Frank shows the sales volume and average pricing unit prices of shophouses, particularly those in H1 and H2 2021 and H1 2022.

In the first half of the year, 114 shophouses were sold, totaling $938.8m. The number of units sold in H1 was lower H1 2021 at 131 units and H2 2022 at 123 units.

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Despite lower transaction volume in H1 2022 compared to the half-yearly numbers of 2021, it is still more units sold from H2 2013 to H2 2020, which averaged 65 units. About 79.8%, or 91 units, were freehold shophouses, with a total of $711.5m and an average price of $4,982 psf on land. Demand for leasehold shophouses also did not slow down as 23 units were sold in H1 2022, although this total value of $227.3m was marginally less than the $242.2m in H2 2021, with the corresponding average price at $5,185 psf on land.

Base on the chart, the shophouse market managed to retain its popularity in 2022, after 2021’s record-breaking value. Knight Frank said the demand for this asset class will unlikely fade any time soon.

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Chart of the Day

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