Published:
Chart of the Day: Shophouse sales fell 29.8% to 118
Shophouse owners were unwilling to cut their asking prices due to limited supply.
This chart from Knight Frank Research shows that the number of caveats lodged for shophouses crashed 29.8% YoY to 118. This was attributed to a mismatch in price expectations.
“The shophouse owners were unwilling to lower their asking prices as such shophouses, especially those that are conserved and are in heritage districts, are limited in supply,” the report stated.
Most shophouses sold had a land area between 1,000 sqft and 5,000 sqft, similar to proportions from the past four years.
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