Investing in a condominium in Singapore has emerged as a popular trend among both local and international investors, thanks to the country’s thriving economy, political stability, and exceptional quality of life. With the Singapore real estate market offering a plethora of opportunities, condos have emerged as a top choice for investors, given their convenience, facilities, and potential for attractive returns. In this piece, we will delve into the advantages, factors to consider, and essential steps to take when investing in a condo in Singapore, including exploring exciting options such as new condo launches.
A prime corner two-storey shophouse with an attic is currently available for purchase at 209 Jalan Besar, as reported by Gracelynn Zhu, from PropNex Shophouse Elites. The 999-year leasehold shophouse has been listed for sale at a price below $20 million.
The property boasts a generous floor area of approximately 5,502 square feet and is zoned for commercial use. The first floor is approved for restaurant use, while a portion of the second floor also has the same approval. Based on the asking price of $20 million, the property’s price per square foot works out to be $3,635.
The shophouse is strategically located in the Desker Road Conservation Area in District 8, near the bustling Little India area. The Jalan Besar MRT Station on the Downtown Line is also within walking distance from the property.
According to Zhu, the shophouse is currently undergoing asset enhancement initiatives (AEI), which includes the installation of micro piles that extend to a depth of 30 meters. This will serve to strengthen the property’s structural foundations. The AEI is expected to be completed this year.
In addition to its prime location and potential for commercial use, the property also boasts a vibrant and diverse neighborhood, with a wide range of amenities and attractions to explore. With its central location and ongoing AEI, this shophouse presents a lucrative investment opportunity for potential buyers.