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Shophouse: Singapore'S Architectural Gem
Shophouse: Singapore'S Architectural Gem
Shophouse: Singapore'S Architectural Gem
SHOPHOUSE
SINGAPORES ARCHITECTURAL GEM
Figure 1: Median Price of Commerical Properties in the
Resale Market
Median Price
Once a humble compound,
shophouses are now a much
sought-after
investment,
judging from the trend in
recent years.
Shophouses have also become
more costly to purchase than
ever. Median transaction price
soared to $4,111 psf in 1Q14,
an increase of 24.2% y-o-y and
is now at its highest ever in
history. In absolute price, the
median transaction price is
$4.2m in 1Q14.
Table 1: Median Transaction
Price of Shophouses in 1Q13
and 1Q14
Median
Median
Period
$m
$psf
1Q13
5.7
3,310
1Q14
4.2
4,111
%yoy
-26.3%
24.2%
1.01
756
2006
1.31
942
2007
1.58
1,160
2008
1.80
1,252
2009
1.70
1,336
2010
2.20
1,650
2011
2.95
2,054
2012
3.63
2,730
2013
4.75
3,484
4000
60%
3500
50%
3000
40%
2500
30%
2000
20%
1500
10%
1000
0%
500
-10%
-20%
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Shophouse $psf
Shop $psf
Office $psf
Shophouse (% yoy)
Shop (% yoy)
Office (% yoy)
55
11
3,705
Total
8,098
11,136
4,394
0.7%
0.1%
84.3%
2,649
5,969
2,661
Total*
8,097
11,132
3,111
32.7%
53.6%
85.5%
Page 2
SHOPHOUSE
SINGAPORES ARCHITECTURAL GEM
Table 4a: Sales Volume and Value of Shophouses in 2012 and 2013
1H
2H
Year
Volume
Value
Volume
Value
(#)
($)
(#)
($)
2012
145
734.78
145
649.24
2013
146
896.50
59
346.51
% yoy
0.7%
22.0%
-59.3%
-46.6%
70
438.54
2Q13
76
8.6%
457.97
4.4%
3Q13
30
-60.5%
197.17
-56.9%
4Q13
29
-3.3%
149.34
-24.3%
1Q14
31
6.9%
140.84
-5.7%
600
500
200
400
150
300
100
200
50
100
Volume (#)
Value ($)
Page 3
$ Millions
SHOPHOUSE
Figure 3: Breakdown of Sales by Price Range
120
400
350
100
300
80
250
60
$ Millions
200
150
40
100
20
50
# Sales
txn $10m
volume below $10m
SalesAmt
value
below
$10m ($)
Total
from
txn $10m
# Sales
txn >$10m
volume above $10m
SalesAmt
value
above
$10m
Total
from
>$10m
($)
Rental Yield
5,000
6.00
5.00
4,000
4.00
3,000
3.00
2,000
2.00
1,000
1.00
Median Rent
4,111
4.89
% Change
324.7%
72.8%
8%
6%
4%
2%
0%
Page 4
SHOPHOUSE
SINGAPORES ARCHITECTURAL GEM
Profitability
100%
0%
Potential Risk
60%
40%
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
Unprofitable
Profitable
Millions
5,000
300
4,000
200
3,000
100
2,000
0
-100
1,000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Total Profit
1998
1997
1996
1995
20%
Gains $
Losses $
Median Price $
Page 5
Thousands
80%
RECENT TRANSACTIONS
SINGAPORES ARCHITECTURAL GEM
Contract
Date
28 Apr 14
21 Apr 14
16 Apr 14
15 Apr 14
11 Apr 14
10 Apr 14
8 Apr 14
7 Apr 14
28 Mar 14
25 Mar 14
21 Mar 14
18 Mar 14
17 Mar 14
15 Mar 14
14 Mar 14
12 Mar 14
12 Mar 14
7 Mar 14
7 Mar 14
6 Mar 14
4 Mar 14
3 Mar 14
3 Mar 14
28 Feb 14
28 Feb 14
18 Feb 14
11 Feb 14
7 Feb 14
4 Feb 14
29 Jan 14
20 Jan 14
16 Jan 14
16 Jan 14
13 Jan 14
13 Jan 14
10 Jan 14
10 Jan 14
9 Jan 14
8 Jan 14
Street
Tenure
Area
Freehold
99 Yrs From 1995
Freehold
Freehold
Freehold
Freehold
Freehold
999 Yrs From 1877
Freehold
999 Yrs From 1957
99 Yrs From 1960
99 Yrs From 1989
Freehold
999 Yrs From 1833
Freehold
Freehold
999 Yrs From 1831
Freehold
Freehold
Freehold
999 Yrs From 1827
Freehold
999 Yrs From 1828
99 Yrs From 1995
Freehold
Freehold
Freehold
Freehold
Freehold
Freehold
Freehold
99 Yrs From 1995
999 Yrs From 1885
Freehold
Freehold
Freehold
Freehold
99 Yrs From 1992
99 Yrs From 1988
2,540
1,227
2,303
1,378
915
2,702
1,550
797
872
1,507
1,787
1,119
1,464
721
786
1,292
1,453
1,464
1,948
1,173
753
1,249
807
1,410
2,110
1,851
1,313
1,636
1,141
1,862
2,282
1,615
1,625
1,399
2,153
1,604
1,410
1,324
1,259
Type of
Area
Land
Land
Land
Land
Land
Land
Land
Land
Land
Land
Land
Land
Strata
Land
Strata
Land
Land
Strata
Land
Land
Land
Land
Land
Land
Strata
Land
Land
Land
Land
Land
Strata
Land
Strata
Land
Strata
Land
Strata
Land
Land
Price
($)
6,800,000
3,500,000
3,250,000
1,950,000
3,500,000
16,000,000
2,750,000
2,900,000
3,800,000
5,550,000
2,100,000
5,900,000
1,980,000
4,450,000
2,600,000
2,800,000
6,500,000
3,750,000
8,000,000
3,200,000
4,500,000
5,000,000
4,160,000
6,800,000
2,680,000
4,500,000
6,030,000
4,980,000
4,000,000
1,320,000
3,300,000
10,100,000
1,600,000
4,900,000
2,288,000
4,000,000
2,500,000
8,350,000
9,200,000
Price
($psf)
2,673
2,855
1,408
1,411
3,839
5,922
1,770
3,641
4,342
3,693
1,177
5,270
1,353
6,217
3,309
2,171
4,460
2,562
4,111
2,722
5,972
3,998
5,132
4,826
1,270
2,432
4,611
3,042
3,509
708
1,446
6,247
984
3,499
1,063
2,491
1,773
6,327
7,336
Page 6
APPENDIX
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