The demand for shophouses along Keong Saik Road is witnessing a significant upswing, as investors increasingly recognize their potential for stable returns. This trend is particularly evident in the realm of strata-titled shophouse units, which are drawing attention from a diverse group of buyers, including family offices and high-net-worth individuals. Recent listings exemplify this growing interest, with a unit at 6B priced at $4.48 million and another at 22 commanding an impressive $17.5 million.
The real estate market in Keong Saik has experienced a remarkable surge, characterized by a series of lucrative transactions. Notably, a ground floor unit at 6 Keong Saik Road recently sold for $8.5 million, while other sales at 34 and 12 Keong Saik Road fetched prices of $15.5 million and $17 million, respectively. These transactions underscore the appeal of shophouses as desirable investment assets, particularly given their unique characteristics that blend residential and commercial potential.
Conservation shophouses hold a particular allure for investors seeking long-term stability. Their limited supply and historical significance make them a resilient option, especially in times of market volatility. Wealth preservation is a key consideration for many investors, and the heritage status of these properties enhances their attractiveness. As the market matures, buyers are increasingly viewing shophouses not just as real estate opportunities, but as assets that can withstand economic fluctuations.
The ongoing revitalization of Keong Saik Road is a significant factor in maintaining high demand for shophouses. The area is undergoing a transformation, with an influx of new retail and food and beverage (F&B) tenants contributing to its vibrant atmosphere. Community development initiatives are further enhancing the appeal of the neighborhood, making it a focal point for both locals and visitors alike.
As the area continues to evolve, it is likely to attract more businesses and residents, thereby boosting the demand for shophouse investments. The resurgence of interest in Keong Saik’s shophouses can also be attributed to a broader trend in urban living, where mixed-use developments are becoming increasingly popular.
Buyers are looking for properties that offer not just a place to live or work, but also a lifestyle that encompasses convenience and community. Shophouses fit this model perfectly, allowing owners to capitalize on both residential and commercial opportunities.
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News Source: Edgeprop
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