Shophouse Sales Value Up by 6.2% Quarter-on-Quarter in 1Q2024: PropNex Research

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Singapore’s shophouse market continues to show resilience despite economic fluctuations. In the first quarter of 2024, shophouse sales surged by 6.2% quarter-on-quarter, according to the latest report from PropNex Research. This growth signifies the enduring appeal and investment potential of shophouses in Singapore’s real estate landscape.

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Factors Driving Shophouse Sales Growth

Historical Charm and Heritage Value

Shophouses hold a special place in Singapore’s architectural heritage, boasting intricate designs and historical significance. Investors are drawn to their unique charm, making them desirable assets in the real estate market.

Limited Supply and High Demand

With a finite number of shophouses available, the market benefits from scarcity, driving up demand and prices. Investors recognize the rarity of these properties, leading to increased competition and higher sales values.

Diversification and Stability

Amid economic uncertainty, investors seek assets with stable returns and diversification benefits. Shophouses offer both, serving as tangible assets with potential for rental income and capital appreciation, thus mitigating risk in investment portfolios.

Government Support and Preservation Efforts

Singapore’s government actively promotes heritage conservation, providing incentives for the preservation of shophouses. This support enhances their value proposition, attracting investors keen on contributing to the preservation of Singapore’s cultural identity.

Key Highlights from PropNex Research Report

Quarterly Sales Performance

PropNex Research’s report highlights a significant uptick in shophouse sales, with a robust 6.2% increase quarter-on-quarter. This growth underscores the market’s resilience and investor confidence despite prevailing economic challenges.

Regional Variations in Sales

While overall sales saw a positive trajectory, regional variations were observed. Certain districts experienced higher sales volumes and price appreciation compared to others, reflecting diverse market dynamics across Singapore.

Rental Yield and Capital Appreciation

Shophouses continue to offer attractive rental yields and capital appreciation potential. Investors benefit from stable rental income streams coupled with long-term value appreciation, making shophouses a preferred investment choice.

Foreign Investor Interest

Foreign investors remain active in Singapore’s shophouse market, capitalizing on the city-state’s stable economy and conducive investment environment. Their participation contributes to market liquidity and further drives sales activity.

Frequently Asked Questions (FAQs)

1. What makes shophouses attractive to investors?

Shophouses appeal to investors due to their historical charm, limited supply, stable rental income, and potential for capital appreciation.

2. Are shophouses a good investment during economic downturns?

Yes, shophouses offer stability and diversification during economic downturns, making them resilient assets in investment portfolios.

3. How does government support impact shophouse values?

Government support for heritage conservation enhances shophouse values by incentivizing preservation efforts and maintaining their historical significance.

4. What factors contribute to regional variations in shophouse sales?

Regional variations in shophouse sales can be attributed to factors such as location attractiveness, demand-supply dynamics, and economic development in specific districts.

5. What role do foreign investors play in Singapore’s shophouse market?

Foreign investors contribute to market liquidity and drive sales activity in Singapore’s shophouse market, attracted by the city-state’s stable economy and investment-friendly policies.

6. How do shophouse sales in 1Q2024 compare to previous quarters?

Shophouse sales in 1Q2024 saw a notable increase of 6.2% quarter-on-quarter, indicating positive momentum and investor confidence in the market.


The first quarter of 2024 witnessed a significant uptick in shophouse sales, reflecting the enduring appeal and investment potential of these heritage properties. With historical charm, limited supply, and stable returns, shophouses continue to attract investors seeking diversification and long-term value appreciation. Government support for heritage conservation further enhances their value proposition, ensuring their preservation for future generations. As Singapore’s real estate market evolves, shophouses remain steadfast as coveted assets in investors’ portfolios.

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