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Shophouse prices in prime districts soften in Q3 as sales lag

Districts 1 and 2 only had two 99-year leasehold shophouse transactions.

Shophouse prices in prime districts have mostly softened in Q3 on a year-on-year basis, ProNex reported.

Year-over-year, average unit prices on land area for freehold and 999-year leasehold shophouses fell by 22% in districts 1 and 2, 13% in districts 7 and 8, and 12% elsewhere in Singapore.

Meanwhile, the average unit price of 99-year leasehold shophouses in districts 1 and 2 fell 22% YoY.

PropNex, however, said these districts recorded only two transactions in Q3, which may not accurately represent capital values.
 

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