The conservation shophouse at 93 Tanjong Pagar Road, with a guide price of $15.5 million, is now seeking interested buyers through an expression of interest (EOI) exercise. The 3½-storey shophouse, sitting on a 1,297 sq ft land with a gross floor area (GFA) of 4,186 sq ft, is available for sale to commercial buyers and comes with F&B approval. Currently, the first and second levels of the 99-year leasehold property are being rented out to a popular Korean barbecue restaurant chain while the upper levels remain vacant. It is conveniently located just a short walk away from the Tanjong Pagar MRT Station and Maxwell MRT Station, making it easily accessible by both the East-West Line and Thomson-East Coast Line. Marketed by PropNex Shophouse Elites, the EOI for this shophouse will close at noon on Jan 20, 2025. Hurry and seize this opportunity now!
It is crucial for prospective overseas investors to familiarize themselves with the regulations and limitations surrounding property ownership in Singapore. While foreigners are typically permitted to acquire condominiums without significant barriers, ownership rules for landed properties are more stringent. Additionally, foreign buyers are subject to the Additional Buyer’s Stamp Duty (ABSD), currently set at 20%, for their initial property purchase. However, despite these added expenses, the stability and potential for growth in the Singapore real estate market remain alluring to foreign investments. To stay updated on the latest offerings, interested parties can explore [New Condo Launches](https://www.mentorshiponline.com/) in the market.