{"id":91608,"date":"2025-10-27T15:53:00","date_gmt":"2025-10-27T07:53:00","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=91608"},"modified":"2025-10-27T15:57:00","modified_gmt":"2025-10-27T07:57:00","slug":"shophouse-market-q3-2025","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/shophouse-market-q3-2025\/","title":{"rendered":"Shophouse market rebounds in Q3 2025 with stronger sales and renewed investor confidence"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\r\n<p><span style=\"font-weight: 400;\">Singapore\u2019s shophouse market saw a notable rebound in activity during Q3 2025, according to PropNex\u2019s latest report, driven by improving buyer sentiment, a more stable interest rate environment, and a brighter outlook for the economy and tourism sector. With more deals transacted and higher sales value achieved, this quarter reflected renewed confidence among investors, family offices, and high-net-worth individuals looking to re-enter the market.<\/span><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\">\r\n<h3>Table of contents<\/h3>\r\n<ul>\r\n<li><a href=\"#h-sales-momentum-rebounded-strongly\" data-level=\"2\">Sales momentum rebounded strongly<\/a><\/li>\r\n<li><a href=\"#h-more-buyers-returning-to-the-market\" data-level=\"2\">More buyers returning to the market<\/a><\/li>\r\n<li><a href=\"#h-big-ticket-deals-and-district-highlights\" data-level=\"2\">Big-ticket deals and district highlights<\/a><\/li>\r\n<li><a href=\"#h-leasing-market-stayed-stable\" data-level=\"2\">Leasing market stayed stable<\/a><\/li>\r\n<li><a href=\"#h-investment-sentiment-improving\" data-level=\"2\">Investment sentiment improving<\/a><\/li>\r\n<li><a href=\"#h-what-to-expect-moving-forward\" data-level=\"2\">What to expect moving forward<\/a><\/li>\r\n<\/ul>\r\n<\/div>\r\n\r\n\r\n\r\n<h2 id=\"h-sales-momentum-rebounded-strongly\" class=\"wp-block-heading\"><b>Sales momentum rebounded strongly<\/b><\/h2>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image alignnone wp-image-91612 size-full\"><img decoding=\"async\" width=\"1200\" height=\"704\" class=\"wp-image-91612\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/10\/shophouse-market-q3-2025-transaction-volume-e1761551139521.jpg\" alt=\"shophouse market q3 2025 transaction volume graph\" \/>\r\n<figcaption class=\"wp-element-caption\">Source: PropNex Research, URA Realis<\/figcaption>\r\n<\/figure>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Sales momentum picked up significantly in Q3 2025, marking one of the most active quarters for shophouses in the past two years. Based on caveats lodged, 27 transactions were recorded in the quarter \u2013 up by 50% quarter-on-quarter (QoQ) from 18 deals in Q2 2025. Compared to the same period a year ago, sales volume also rose by 50% year-on-year (YoY) from 18 transactions in Q3 2024.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">In total, these 27 deals amounted to S$210 million, representing a 65.3% increase in value from the previous quarter\u2019s S$127 million and a 51.3% jump YoY from S$139 million in Q3 2024. This was the highest quarterly transaction volume since 2023, suggesting that market confidence is slowly returning.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">It\u2019s worth noting that some shophouse sales may not have been caveated yet, meaning the final numbers for the quarter could be even higher.<\/span><\/p>\r\n\r\n\r\n\r\n<h2 id=\"h-more-buyers-returning-to-the-market\" class=\"wp-block-heading\"><b>More buyers returning to the market<\/b><\/h2>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">This renewed activity can be attributed to several key factors. Firstly, the moderation in interest rates has encouraged more investors to re-engage with the market. Secondly, Singapore\u2019s economy continued to show resilience \u2013 expanding by 1.3% QoQ in Q3 2025, according to the Ministry of Trade and Industry (MTI).<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Additionally, optimism about easing US\u2013China trade tensions and a strong tourism recovery have also contributed to improved sentiment. As a result, both buyers and sellers became more confident in transacting again, particularly those seeking long-term, stable assets like shophouses.<\/span><\/p>\r\n\r\n\r\n    <section id=\"portal-widget-tab-panel-6a5db92e63d89\" class=\"portal-widget-tab-panel\">\n        <div class=\"swiper-container\" id=\"swiper-container-6a5db92e63d89\">\n                        <div class=\"row-title-widget\">\n                <div class=\"portal-widget-carousel-title-left\"><h4 class=\"portal-widget-title\">Shophouses are back in demand \u2013 maybe it\u2019s time to make your move too.<\/h4><\/div>\n                <div class=\"portal-widget-carousel-title-right text-right\"><span class=\"portal-widget-see-all-link link-top\"><a href=\"\" class=\"nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/sale\/commercial\/shophouse?commercial_main_category=retail&amp;name=Singapore&amp;page_num=1&amp;page_size=36&amp;path=%2Fsingapore%2Fsale%2Fcommercial%2Fshophouse&amp;property_segments=commercial_all&amp;query_name=Singapore&amp;retail_sub_category=retail_shop&amp;show_cluster_preview=true&amp;show_description=true&amp;show_internal_linking=true&amp;show_meta_description=true&amp;show_nearby=true&amp;sort_field=relevance&amp;sort_order=desc&amp;zoom=15&utm_source=blog&utm_medium=widget\">See all listings<\/a><\/span><\/div>\n            <\/div>\n                        <div class=\"portal-widget-carousel swiper-wrapper\">\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/kwXZQUXLpc4xyfs6jSvfyf?text=property+darrio&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=812795e51c980d4581edae3d3aba023b1b293bca\" alt=\"Spazio @ Kovan Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">Spazio @ Kovan<\/div>\n                            <div class=\"card-text card-subtitle\">Spazio @ Kovan<\/div>\n                            <div class=\"card-text card-room\">\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div >\n                                    <span>603 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 2,199,999<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/commercial\/sale\/property\/spazio-kovan-shop-9ytmag9E6ve3VN8YSXS2b5?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/wqrBEBub7SpfBToAf5MpKG?text=Alice+Teo&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=9bee57eba4a36d4693e54c6eff7788d47b56a4e2\" alt=\"18 Upper Boon Keng Road Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">18 Upper Boon Keng Road<\/div>\n                            <div class=\"card-text card-subtitle\">Boon Keng Ville<\/div>\n                            <div class=\"card-text card-room\">\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div >\n                                    <span>1,324 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 2,420,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/commercial\/sale\/property\/boon-keng-ville-shop-RogGhTx8t5EfKRzHeeTpGg?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/TPq4hh3ChHiccwSkNsp528?text=Adeline+Lee&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=fe72a9bdf37d93798cf66249da0017cfaec72208\" alt=\"Teo Hong Road Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">Teo Hong Road<\/div>\n                            <div class=\"card-text card-subtitle\">Bukit Pasoh Extnsn Constn Area<\/div>\n                            <div class=\"card-text card-room\">\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div >\n                                    <span>4,631 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 28,000,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/commercial\/sale\/property\/bukit-pasoh-extnsn-constn-area-shop-mY67NXgcZXyYAv3K8SgnHj?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/XuK6jrHGh4tTxgEj2jM4a9?text=Alice+Teo&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=4c80585be46d8f0cf11676af285a8bfdbf77203c\" alt=\"161 Bukit Merah Central Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">161 Bukit Merah Central<\/div>\n                            <div class=\"card-text card-subtitle\">Bukit Merah Central<\/div>\n                            <div class=\"card-text card-room\">\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div >\n                                    <span>1,581 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 2,190,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/commercial\/sale\/property\/bukit-merah-central-shop-3L4mD4wWCrpefnXbiaCZWU?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/JCw7MPetykUXoTBg2NgM9Y?text=Jack+Yeo&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=281e42d3a3c910bc18920375e7a72ceabd54570c\" alt=\"Balestier Plaza Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">Balestier Plaza<\/div>\n                            <div class=\"card-text card-subtitle\">Balestier Plaza<\/div>\n                            <div class=\"card-text card-room\">\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div >\n                                    <span>560 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 1,888,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/commercial\/sale\/property\/balestier-plaza-shop-AmWqzFsU5kVwXSBfVtdv7Y?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/NrpZZZcihxZv4z8ZdoEXvc?text=jimmy+peh&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=05a86a86540f37d315cf7b83e3554d3458c1aa74\" alt=\"Ang Mo Kio Avenue 6 Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">Ang Mo Kio Avenue 6<\/div>\n                            <div class=\"card-text card-subtitle\">Ang Mo Kio Avenue 6<\/div>\n                            <div class=\"card-text card-room\">\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div >\n                                    <span>1,600 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 3,500,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/commercial\/sale\/property\/ang-mo-kio-avenue-6-shop-Hb3sV8qJAknsttkq84aYKm?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/UsH2kBVuU5ahQXXQ3FLNBS?text=Vincent+Ong&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=7a525865646b8774938f41b8a0fbdc94ce58b38d\" alt=\"Bukit Timah Shopping Centre Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">Bukit Timah Shopping Centre<\/div>\n                            <div class=\"card-text card-subtitle\">Bukit Timah Shopping Centre<\/div>\n                            <div class=\"card-text card-room\">\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div >\n                                    <span>398 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 1,820,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/commercial\/sale\/property\/bukit-timah-shopping-centre-shop-ejRL6ZXzjHrJY2EXLaFKUV?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/oLxEWYFB4pXUKhr52WzKdQ?text=Alice+Teo&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=2a231ec60763adfd02d43e591fc61bc25c7cc7c9\" alt=\"Race Course Road Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">Race Course Road<\/div>\n                            <div class=\"card-text card-subtitle\">Race Course Rd\/owen Rd Con Area<\/div>\n                            <div class=\"card-text card-room\">\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div >\n                                    <span>4,909 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 12,000,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/commercial\/sale\/property\/race-course-rdowen-rd-con-area-shop-9pCunUBpr7DH9cvhAZdAtk?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/L2DqHeBiR2ww8be5UDnbeT?text=Colin+Choo&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=4ce518d6bf6e66e41f6069992361529dc3f84c78\" alt=\"Le Regal Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">Le Regal<\/div>\n                            <div class=\"card-text card-subtitle\">Le Regal<\/div>\n                            <div class=\"card-text card-room\">\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div >\n                                    <span>291 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 1,690,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/commercial\/sale\/property\/le-regal-shop-JuZBeggcXCxCCqbyrhybPE?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                                    <div class=\"portal-widget-carousel__card swiper-slide\">\n                                                <div class=\"card-image\">\n                            <img decoding=\"async\" src=\"https:\/\/pic2.99.co\/v3\/QvRCsNCftuSscPFNLCxjo3?text=DANIEL+REIN+OOI&sampling=lanczos&version=1&height=600&width=800&mode=fill&quality=80&convert_if_png=true&signature=72a8ac5d116ffd4df226dac93cb6145d3b3fef77\" alt=\"70 Bussorah Street Photo\">\n                        <\/div>\n                        <div class=\"card-description\">\n                            <div class=\"card-text card-title\">70 Bussorah Street<\/div>\n                            <div class=\"card-text card-subtitle\">Kampong Glam Conservation Area<\/div>\n                            <div class=\"card-text card-room\">\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bed-icon.svg\" alt=\"bedroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div style=\"display:none;\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/plugins\/nndc-portal\/public\/partials\/..\/images\/bath-icon.svg\" alt=\"bathroom\">\n                                    <span><\/span>\n                                <\/div>\n                                <div >\n                                    <span>3,178 sqft<\/span>\n                                <\/div>\n                            <\/div>\n                            <div class=\"card-text card-price\">S$ 11,888,000<\/div>\n                        <\/div>\n                        <div class=\"card-button\">\n                            <button class=\"btn-view-listing nndc-open-app-link\" data-url=\"https:\/\/www.99.co\/singapore\/commercial\/sale\/property\/kampong-glam-conservation-area-shop-WhMtHM9USSvRvpxQW7ws7m?utm_source=blog&utm_medium=widget\">View this listing<\/button>\n                        <\/div>\n                    <\/div>\n                            <\/div>\n            <!-- Add Arrows -->\n            <div class=\"swiper-button-next\"><\/div>\n            <div class=\"swiper-button-prev\"><\/div>\n                    <\/div>\n    <\/section>\n\n<p>&nbsp;<\/p>\n\r\n\r\n\r\n<h2 id=\"h-big-ticket-deals-and-district-highlights\" class=\"wp-block-heading\"><b>Big-ticket deals and district highlights<\/b><\/h2>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">District 15, which covers Katong and Joo Chiat, was the star performer in Q3 2025. It recorded eight transactions valued at S$47.9 million, the highest among all districts. This reflects continued interest in city-fringe and heritage-rich areas that balance accessibility with character.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">There were also several high-profile deals during the quarter. One of the largest involved a portfolio sale of six conservation shophouses along Stanley Street, reportedly transacted for over S$82 million. The buyer was understood to be affiliated with Clifton Partners, a Singapore-based real estate investment firm, while the seller was Anpora Real Estate.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Another major transaction, according to URA Realis data, was the sale of three adjoining freehold shophouses in Jalan Besar\u2019s Desker Road Conservation Area for S$36.5 million in September 2025. Based on a land area of 6,378 sqft, this worked out to about S$5,723 per sqft (psf) on land area.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Elsewhere, a Club Street conservation shophouse changed hands for S$21 million, translating to around S$3,889 psf based on an estimated gross floor area of 5,400 sqft. The property, previously owned by JL Family Office, was purchased by Asia Success Management, a Singapore-incorporated entity.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">These big-ticket deals highlighted a shift in buyer appetite towards higher-value assets. More than half of the transactions in Q3 2025 (59%) were priced above S$5 million, while 41% were below that threshold.<\/span><\/p>\r\n\r\n\r\n\r\n<p><b>Table 1: Price range of shophouses sold by quarter<\/b><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-table\">\r\n<table class=\"has-fixed-layout\">\r\n<tbody>\r\n<tr>\r\n<td><b>Price range<\/b><\/td>\r\n<td><b>Q3 2024<\/b><\/td>\r\n<td><b>Q4 2024<\/b><\/td>\r\n<td><b>Q1 2025<\/b><\/td>\r\n<td><b>Q2 2025<\/b><\/td>\r\n<td><b>Q3 2025<\/b><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">Under S$2.5 million<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">0<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">1<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">1<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">1<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">5<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">S$2.5 million to &lt; S$5 million<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">4<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">9<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">10<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">3<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">6<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">S$5 million to &lt; S$10 million<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">10<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">8<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">6<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">12<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">10<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">Above S$10 million<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">4<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">6<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">3<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">2<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">6<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><b>Total transactions<\/b><\/td>\r\n<td><b>18<\/b><\/td>\r\n<td><b>24<\/b><\/td>\r\n<td><b>20<\/b><\/td>\r\n<td><b>18<\/b><\/td>\r\n<td><b>27<\/b><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/figure>\r\n\r\n\r\n\r\n<p><i><span style=\"font-weight: 400;\">Source: PropNex Research, URA Realis<\/span><\/i><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">As the table shows, the proportion of lower-priced shophouses under S$2.5 million rose in Q3, but the majority of activity still occurred in the mid- to upper-tier range. This reflects a market that remains attractive to affluent investors and family offices seeking long-term value and capital preservation.<\/span><\/p>\r\n\r\n\r\n\r\n<h2 id=\"h-leasing-market-stayed-stable\" class=\"wp-block-heading\"><b>Leasing market stayed stable<\/b><\/h2>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image alignnone wp-image-91613 size-full\"><img decoding=\"async\" width=\"1200\" height=\"726\" class=\"wp-image-91613\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/10\/shophouse-market-q3-2025-leasing-transaction-e1761551111707.jpg\" alt=\"shophouse market q3 2025 leasing transaction graph \" \/>\r\n<figcaption class=\"wp-element-caption\">Source: PropNex Research, URA Realis<\/figcaption>\r\n<\/figure>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">The leasing segment of the shophouse market remained steady in Q3 2025. A total of 816 rental contracts were signed, up by about 2% QoQ from 801 contracts in Q2 2025.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">However, the total rental transaction value slipped by 4% to S$8.58 million, compared to S$8.9 million in the previous quarter. On a broader view, about 2,458 rental contracts worth S$26.6 million were signed in the first nine months of 2025, lower than the 2,695 contracts worth S$30.7 million recorded during the same period in 2024.<\/span><\/p>\r\n\r\n\r\n\r\n<p><b><strong>Table 2: <\/strong><strong data-start=\"211\" data-end=\"280\">Median shophouse rentals (S$ PSF per month) by selected Districts<\/strong><\/b><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-table\">\r\n<table class=\"has-fixed-layout\">\r\n<tbody>\r\n<tr>\r\n<td><b>District<\/b><\/td>\r\n<td><b>Q3 2024<\/b><\/td>\r\n<td><b>Q2 2025<\/b><\/td>\r\n<td><b>Q3 2025<\/b><\/td>\r\n<td><b>QoQ change<\/b><\/td>\r\n<td><b>YoY change<\/b><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">D01 (Raffles Place, Marina)<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$8.35<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$7.64<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$6.80<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">-11.0%<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">-11.5%<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">D02 (Tanjong Pagar)<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$8.08<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$7.97<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$7.60<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">-4.6%<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">-8.5%<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">D07 (Middle Road, Golden Mile)<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$7.28<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$6.48<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$7.06<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">+9.0%<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">-1.4%<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">D08 (Little India)<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$6.60<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$5.19<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$5.64<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">+8.7%<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">-10.2%<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">D14 (Geylang, Eunos)<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$5.45<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$6.05<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$4.75<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">-21.5%<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">-10.4%<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">D15 (Katong, Joo Chiat)<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$6.22<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$5.73<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$5.84<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">+1.9%<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">+0.7%<\/span><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/figure>\r\n\r\n\r\n\r\n<p><i><span style=\"font-weight: 400;\">Source: PropNex Research, URA Realis<\/span><\/i><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Median shophouse rentals softened slightly to S$6.59 psf per month, reflecting a 1.3% QoQ and 0.8% YoY decline.Districts 7 and 8, covering Middle Road, Golden Mile, and Little India, saw the strongest rental growth during the quarter, rising by 9% and 8.7% respectively. In contrast, rentals in District 14 (Geylang, Eunos) saw the sharpest drop, declining by over 21%. Prime districts such as D1 and D2 also registered moderate declines of 11% and 4.6%.<\/span><\/p>\r\n\r\n\r\n\r\n<h2 id=\"h-investment-sentiment-improving\" class=\"wp-block-heading\"><b>Investment sentiment improving<\/b><\/h2>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">As interest rates eased and global economic risks became less pronounced, more investors began exploring shophouses as a defensive asset. Many family offices and institutional investors have re-entered the market, drawn to the safe-haven status and heritage value of these properties.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Unlike residential properties, commercial<\/span><b> shophouses are not subject to Additional Buyer\u2019s Stamp Duty (ABSD) or Seller\u2019s Stamp Duty (SSD).<\/b><span style=\"font-weight: 400;\"> The recent revision of SSD for private homes in July 2025 may have also encouraged some investors to shift their attention to the commercial segment.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">The US Federal Reserve\u2019s rate cut in September 2025, the fourth since March 2022, also improved liquidity conditions and boosted investment appetite. Analysts expect further cuts by the end of 2025, which could continue to support shophouse demand in the near term.<\/span><\/p>\r\n\r\n\r\n\r\n<p><iframe loading=\"lazy\" style=\"border: none; width: 350px !important; box-shadow: 0px 2px 12px rgb(11 17 52 \/ 15%); border-radius: 16px;\" src=\"https:\/\/www.99.co\/property-value-widget?contentSource=insider-blog&amp;contentId=shophouse-market-q3-2025\" width=\"350\" height=\"370\" scrolling=\"no\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><\/span><\/iframe><\/p>\r\n\r\n\r\n\r\n<h2 id=\"h-what-to-expect-moving-forward\" class=\"wp-block-heading\"><b>What to expect moving forward<\/b><\/h2>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Looking ahead, you can expect the shophouse market to stay resilient, supported by Singapore\u2019s positive economic trajectory and strong tourism pipeline. Upcoming major events, including sports, entertainment, and MICE (Meetings, Incentives, Conferences, and Exhibitions) activities, will likely sustain both leasing and investment demand.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">However, global uncertainties \u2013 especially ongoing US\u2013China trade tensions, could still weigh on business confidence and yields. Even so, in uncertain times, investors often look for defensive, tangible assets, and Singapore\u2019s shophouses are well-positioned to benefit from any capital flight-to-safety.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">That said, on the leasing front, rising operational costs, particularly for F&amp;B operators, could limit rental growth despite steady tenant demand.<\/span><\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Singapore\u2019s shophouse market saw a notable rebound in activity during Q3 2025, according to PropNex\u2019s latest report, driven by improving buyer sentiment, a more stable interest rate environment, and a brighter outlook for the economy and tourism sector. With more deals transacted and higher sales value achieved, this quarter reflected renewed confidence among investors, family&hellip;<\/p>\n","protected":false},"author":141,"featured_media":91610,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"no","_lmt_disable":"no","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53653,57131],"tags":[53664,59629,54792],"persona":[57128],"class_list":{"2":"type-post","13":"entry","14":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.7) - 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