These were the 5 largest Singapore shophouse transactions in Q4

A deal worth $18.5m took the top spot.

Based on URA caveats, the top transaction of the fourth quarter of 2023 was the sale of a four-storey shophouse in Serangoon Road for $18.5 million in November. According to PropNex data, the sale price for the 999-year leasehold shophouse spanning over 2,200 sq ft reflected a unit price of about $8,275 psf on land area.

The second top deal of the quarter, added PropNex, was for two adjoining 2-storey shophouses in Thomson Ridge on a 3,482 sq ft site - which were sold in October for $17 million. The freehold shophouses are leased to several tenants of various trades, including retail, beauty and education. 

Here’s more from PropNex:

Of the 15 shophouse transactions in Q4 2023, District 8 (Little India, Jalan Besar) posted the highest sales with 7 deals. In terms of transaction value, District 8 also led the pack, achieving more than $47.4 million worth of sales in Q4.

District 8 dominated shophouse sales done in 2023 with 44 transactions substantially higher than the next popular area, District 14 (Geylang, Eunos) where 18 deals were done in the year. 

Market observers noted that there were several transactions in the prime locations in Districts 1 and 2 in 2023 that had not been caveated.