Top 5 Residential Shophouses You Can Find In The Market Now

PLB Editorial Team

December 19, 2022

Shophouses are unique properties in Singapore with a charming blend of traditional and modern architecture and can possess both residential and commercial attributes. Conservation shophouses have long been a prominent feature of our urban landscape, particularly in conserved districts. They can typically be found in prime locations in the city. They are often used as office spaces by startups and SMEs who prefer to be near or within the Central Business District (CBD) but cannot afford to rent traditional offices.

Like traditional landed properties, shophouses usually have multiple storeys, so the build-up size ranges depending on the number of storeys. The ground level of most shophouses is traditionally used as commercial spaces for business operations. In contrast, the top floors are used for residential, but some are fully residential or fully commercial. This means that the advantage of owning a shophouse as an investor will naturally be the tenant pool – owners can rent out the space for both residential and commercial purposes.

The potential of shophouses is often overlooked, even though they are excellent financial assets and a piece of Singapore’s cultural heritage. One of the main selling points of shophouses is that most are freehold in tenure, allowing owners to ride through property market cycles without being impacted by lease decay.

Over the past few months, we have seen reports documenting shophouse transactions reaping remarkable profits. An example is a Kitchener Road freehold shophouse that netted a S$3.7m profit just five months after it was bought – a signal that demand for such properties is rising.

In this article, we will review the top 5 residential shophouses you can find in the market now. If you’re looking to expand your property portfolio and are considering these prestigious heritage buildings, this article might come in handy. Let’s dive right in.

*This list is not in any particular order.

1. Katong & Joo Chiat Conservation Shophouses

The Katong and Joo Chiat area houses a large cluster of distinctive shophouses steeped in Peranakan heritage. Locals and tourists alike are drawn to the area since it is a unique aspect of this district’s character and an ‘Instagrammable’ location with many great local cuisines. Furthermore, its proximity to East Coast Park makes the area desirable among locals and expats.

We have previously looked at District 15’s shophouses as a whole and analysed how the district’s reputation as a food paradise and cultural hotspot impacted the shophouses’ rentability and performance. We noted that the URA had gazetted the majority of the shophouses in the neighbourhood for conservation to preserve the region’s distinctive architectural heritage.

At the time of writing, there were only two such listings on PropertyGuru.

Both are conservation shophouses with at least two storeys and a built-up size of 2000 sqft, with an asking price of S$3.2m and S$4.2m. What we like about these shophouses is the myriad of amenities in the vicinity and the accessibility to major expressways. Surrounded by F&B shophouses and close to shopping malls in the Paya Lebar cluster, there will not be a lack of dining options. Major expressways nearby like the ECP, KPE and PIE make it a 12-minute drive to CBD and a 14-minute drive to Changi Airport.

With their rarity and freehold conserved status, the district’s abundance of amenities, and its proximity to East Coast, the shophouses in this area deserve a spot in this top 5 list.

 

2. Geylang Shophouses

Geylang is another area that is known for its shophouses. The shophouses here blend Chinese, Malay, and European architectural styles, with intricate details and ornamentation on the façades. They are painted in bright colours, adding to the district’s vibrant and lively atmosphere.

Geylang is also known for its cultural diversity and mix of residential, commercial, and industrial buildings. It is a melting pot of different cultures and cuisines, with various food stalls and restaurants offering a wide range of dishes from different parts of the world.

The shophouses in Geylang are not just a popular tourist attraction but also an integral part of the community. Many have been converted into small businesses, such as laundromats, hair salons, and cafes.

Despite the rapid modernisation of Singapore, the shophouses have retained their charm and character, making them a popular destination for locals and tourists alike.

We have previously covered D14 shophouses in Geylang and analysed whether they are suitable investments for those planning to expand their property portfolio. At the time of writing, there are a variety of Geylang shophouses listed on the market, ranging from a ground floor residential shophouse at 1,630 sqft asking for S$2.5m to a pair of conservation shophouses with a land size of 3,000 sqft and built-up size of 9,000 sqft asking for S$24m.

With its proximity to the CBD and its reputation as a food haven, rental demand is exceptionally high as these shophouses attract a wide range of tenant profiles, making the shophouses here ideal for investment.

3. Niven Road Shophouses

Niven Road is located just off Selegie Road, with a myriad of amenities in the vicinity and is known for its historical shophouses.

In recent years, the shophouses on Niven Road have been transformed, with many of them becoming trendy cafes, boutique stores, and art galleries. Despite the modern facelift, these shophouses have retained their historic charm and character.

At the time of writing, very few shophouses here are listed on the market, signalling its rarity and how owners would usually hold onto these heritage properties.

One of the conservation shophouses listed is a freehold residential property that our PLB Inside Sales Team is currently marketing. It sits on a land size of 1,249 sqft and a built-up size of 2,077 sqft, asking for S$5.7m at S$4,563 psf. The newly renovated 2-storey conservation shophouse has 2 ensuite bedrooms, an office space, and a courtyard for natural light and ventilation. It is tastefully designed to suit families, especially those who need an office space to work from home. If you’re interested in the unit, do drop our Listing Managers a message via the listing.

4. Blair Plain Conservation Shophouses

Blair Plain shophouses are a unique and attractive feature of Singapore’s architectural landscape. Located in the heart of the city, these heritage buildings have a rich history and cultural significance.

Most of them were built in the 19th century when Singapore was rapidly modernising and industrialising. They were designed in the traditional style of the Peranakan culture, which is a blend of Chinese, Malay, and European influences.

The shophouses are typically two or three stories tall, with a narrow frontage and a deep interior. They were initially used as residential and commercial spaces, with the ground floor as a shop or business and the upper floors as living quarters. Today, many of the shophouses have been renovated and repurposed as restaurants, cafes, and boutique hotels.

One of the most striking features of the shophouses here is their colourful and ornate facades. The buildings are adorned with intricate details and patterns, such as ceramic tiles, carved woodwork, and painted murals. These decorations reflect the cultural influences of the Peranakan people and give the shophouses a distinct and vibrant appearance.

The shophouses here are more than just a pretty face, however. They are also a testament to Singapore’s history and the Peranakan community’s role in shaping its identity. Many of these buildings have been restored and preserved as part of Singapore’s efforts to maintain its cultural heritage.

Visitors to these shophouses can take a stroll down the street and appreciate the beauty and history of these iconic buildings. Many shophouses have been converted into restaurants and cafes, offering a chance to sample some of Singapore’s delicious local cuisine. Others have been turned into boutique hotels, providing a unique and authentic experience for travellers looking to immerse themselves in Singapore’s culture and history.

At the time of writing, we noticed that few shophouses here are being sold on the market. The two listings currently on the market are conservation shophouses that have been tastefully restored and renovated to retain the historic feel of such properties while having a modern and trendy interior. The asking price of these shophouses is around S$7m at roughly S$3,500 psf.

With its proximity to many amenities and the CBD, rental demand will also be strong among locals and expats that wish to rent a place to stay closer to town.

 

5. River Valley Conservation Shophouses

Perhaps the most luxurious location on this list, River Valley is home to many iconic landmarks and attractions, including the Singapore River, Clarke Quay, and Boat Quay. These areas are famous for their lively nightlife, with numerous restaurants, bars, and clubs. It is also home to the famous Singapore River Cruise, which offers guided tours of the river and its surroundings.

The River Valley area is also home to several shopping districts, including Orchard Road and Great World City. These areas are renowned for their wide range of shopping options, from high-end luxury brands to local boutiques.

Shophouses in River Valley often feature a mix of traditional and modern elements, with many of them being renovated and repurposed for use as trendy cafes, bars, and restaurants. They offer a unique blend of old and new, combining these buildings’ rich history and cultural significance with modern amenities and design.

In addition to their aesthetic appeal, River Valley shophouses also have a rich history and cultural significance. Many of them date back to the 19th century when they were first built to house the businesses and homes of immigrants who had come to Singapore to work in the bustling port. Today, they are a testament to the city’s rich cultural heritage and evolution.

At the time of writing, our PLB Inside Sales Team members are marketing a 999-year leasehold conservation residential shophouse along River Valley Road. It has a land size of 1,887 sqft and a built-up size of 3,774 sqft, asking for S$8m negotiable, at S$4,239 psf. Comparing it to other similar properties currently listed in the area, which are asking for over S$5,400 psf, our unit is well-priced and tastefully designed for investors looking for a legitimate collector’s item. If you’re interested in the unit, do drop our Listing Managers a message via the listing.

 

Closing Thoughts

Overall, these residential shophouses offer a unique living experience in the heart of Singapore, combining the charm of traditional architecture with the convenience of modern amenities. Whether you’re looking for a historic home or a contemporary space, there’s a shophouse on the market that’s sure to meet your needs.

As Singapore’s rental rates and demand for shophouses are likely to continue climbing, what this means for potential property investors is that it is time to look out for disparities in shophouse prices and opportunities for an entry point into the segment.   

If you are curious about how shophouses can fit into your property portfolio or want a second opinion, do not hesitate to contact us! PropertyLimBrothers, always happy to show you the place.

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