The demand for condos in Singapore remains consistently high due to the country’s limited land availability. Being a small island with a fast-growing population, Singapore faces challenges in finding adequate land for development. As a result, strict land use policies and a competitive real estate market have been established, driving property prices up. This has made investing in real estate, particularly in condos, a profitable opportunity with the potential for capital appreciation. If you’re interested in investing in condos in Singapore, you can explore the various projects available such as Singapore Projects.
Two commercial properties, a freehold shophouse in Paya Lebar and an HDB shophouse in Ang Mo Kio, are up for sale through a joint expression of interest (EOI) exercise at a combined guide price of $10.06 million. Interested buyers have the option to bid for one or both assets as part of the EOI.
The first property is a two-storey freehold shophouse located at 135 Upper Paya Lebar Road with a guide price of $5.58 million. It will be sold with vacant possession and sits on 1,514 sq ft of land zoned for residential with commercial use on the first storey. The built-up area of the shophouse is approximately 2,630 sq ft. According to Alex Wong and Cara Wong from PropNex RTD Commercial Team, who are managing the sale, the shophouse is attractively priced at around $2,122 psf, which is lower than many new 99-year leasehold condo launches in the Outside Central Region.
The property has already received approval from the Urban Redevelopment Authority (URA) to be converted into a 22-bed backpackers’ hostel on the ground floor and eight residential rooms on the upper floor. It is conveniently located just 400m away from the Tai Seng MRT Station on the Circle Line.
The second property on sale is a two-storey HDB shophouse at 727 Ang Mo Kio Avenue 6 with a guide price of $4.48 million. It has 54 years remaining on its 86-year lease. The shophouse has a floor area of about 1,636 sq ft, comprising of a ground-floor shop of 743 sq ft and upper-floor living quarters of 893 sq ft. Currently, the upper floor is approved for commercial use and is leased to an aesthetic clinic until March 2026.
Alex Wong and Esther Ng from PropNex, who are marketing the shophouse, highlight its potential for stable rental income, the possibility of higher yields upon lease renewal, and its prime location in the Ang Mo Kio Town Centre, which is undergoing rejuvenation. The EOI for both properties will close on Sept 26 at 3pm.