When it comes to investing in real estate, one of the most critical factors to consider is the location of the property. This is especially true for the booming real estate market in Singapore. The location of a condo can significantly impact its value and potential for growth. Condos situated in central areas or in close proximity to important amenities such as schools, shopping malls, and public transportation hubs are highly desirable and tend to experience a higher appreciation in value. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently displayed strong growth in property values. Additionally, condos near reputable schools and educational institutions are in high demand, making them even more attractive investments. To truly maximize your investment potential, carefully considering the location of a condo before making a purchase is crucial. For more information about condos and real estate investments in Singapore, visit Condo.
SINGAPORE (EDGEPROP) – Despite a decline in caveated transactions, 3Q2024 saw continued interest in the shophouse market, according to the latest quarterly report by Huttons Asia. Published on Nov 12, the report revealed that 18 caveats were lodged for shophouse transactions in 3Q2024, a slight decrease from the 21 caveated deals in the previous quarter. The total transacted quantum of the caveated shophouses, however, recorded a 28.8% decrease from $195.1 million in 2Q2024 to $138.9 million in 3Q2024. This is substantially lower when compared to 3Q2023’s transacted quantum of $278.6 million.In the first nine months of 2024, caveats show that 62 shophouses were sold, which is a notable 46.1% drop from the caveated shophouse transactions during the same period last year. The total value of transactions for this period in 2024 stands at $519 million, which is approximately 48.5% lower than the same period in 2023.According to Huttons Asia’s senior director of data analytics, Lee Sze Teck, the decline in transaction figures does not accurately represent the demand for shophouses. He confirms that there were a number of shophouse deals in 3Q2024 that went un-caveated. “According to market sources, several shophouses along Amoy Street, Neil Road, and Telok Ayer Street in Districts 1 and 2 were reportedly sold,” he adds. The estimated quantum for these shophouses exceeds $70 million, which clearly indicates the strong demand for shophouses in the current market.Lee attributes the surge in shophouse demand to their scarcity and potential for strong capital gains, especially in the past few months. Additionally, with the recent interest rate cuts, these properties are becoming increasingly popular as a wealth creation and preservation asset. Based on this trend, Lee expects the transaction volume and quantum of shophouses to continue to rise further in 4Q2024.