Singapore shophouse sales fall 46.1% YoY in 9M2024

There were only 62 shophouses sold during the period.

Approximately 18 caveats were lodged for shophouses in Q3 2024, down from 21 caveated deals in Q2 2024, data from Huttons showed.

In 9M2024, an estimated 62 shophouses were sold, 46.1% year-on-year (YoY) lower than the caveated shophouse transactions from 9M2023.

Several shophouses in Districts 1 and 2 along Amoy Street, Neil Road, and Telok Ayer Street were sold in Q3 2024 with an estimated quantum for these shophouses exceeding $70m.

In District 7, a few shophouses were transacted at close to $60m in total. The total transacted quantum of the caveated shophouses was $138.9m in Q32024, dropping 28.8% quarter-on-quarter (QoQ) from $195.1m in Q2 2024, and down 50% YoY from $278.6m in 3Q 2023.

The total value of transactions from 9M2024 was $519m, 48.5% YoY lower than a year ago.