You know I always give it to you straight. And right now, there’s something subtle happening in the shophouse market that has my full attention.

Only 19 shophouses were sold in Q1 2025. That’s one of the slowest quarters in recent history. Most people look at that and pull back. But you and I? We know better.

Because this isn’t a sign of weakness. It’s a sign of hesitation. And in that hesitation lies your edge.

The Market Has Cooled — But This Is When Smart Investors Lean In

Total transaction value dropped 43% quarter-on-quarter to just around S$100 million. That’s a steep fall — and exactly why this moment matters.

For the first time in years, we’re seeing a real gap between what sellers are asking and what buyers are willing to pay. And when that happens? You get to negotiate. You get to walk away with better terms. You get to buy smart.

In the world of shophouses — where everything is tightly held and fiercely competitive — this almost never happens. But right now? It’s happening.

Why I Still Believe in Shophouses — Even More So Now

I’ve been doing this for years, and I’ll be honest — shophouses are still one of the most defensive, undervalued assets in the entire Singapore property market.

•  Only around 6,700 units exist islandwide — and no, they’re not making more.
•  Located in prime districts: Telok Ayer, Kampong Glam, Joo Chiat, Boat Quay.
•  No ABSD — that’s a huge edge for both locals and foreigners.
•  Flexible use — retail, F&B, offices, co-living, boutique hotels, even residences.
•  And yes… they’re beautiful. Owning one is like owning a piece of Singapore’s living history.

In a market flooded with sameness, shophouses are iconic, rare, and full of character — and that’s exactly why they’ve held value so well over the years.

Here’s What I’m Seeing on the Ground

Yes, leasing demand dipped slightly — 836 rental contracts were signed in Q1, down 4% from the previous quarter.

But rental rates? In places like District 7 and 15, they actually went up.

That tells me one thing, quality is still commanding a premium. It’s not that demand has disappeared — it’s just become more selective. And if you pick the right property, tenants will pay.

Right now, I’m watching District 8 closely — Little India, Jalan Besar. Still charming. Still affordable (by shophouse standards). And investors are quietly circling.

And get this — a boutique hotel shophouse is transacting at around S$2.08 million per key. That’s near-record pricing. Someone clearly believes the upside is real — and so do I.

But Let Me Be Straight with You

Not all shophouses are created equal and compliance really matters.

Recently, a tragic fire on River Valley Road shocked the community. A young girl lost her life. The shophouse was partly used as a children’s enrichment centre, and investigations are still ongoing.

I’m telling you this not to scare you — but to emphasize how serious I am about due diligence. Usage approvals. Fire safety. Proper layout planning. These things matter. And I never recommend a unit unless I’ve personally checked these boxes.

So… Is It Time to Buy?

Here’s my honest take:

• If you’re waiting for a crash — it’s not coming.
• If you’re waiting for discounts — now's your chance, they’re here now.
• If you’re waiting for everyone else to buy first — you’ll be paying more later.
  

And with interest rates likely to ease in the second half of 2025? Expect serious money to return fast. Add that to the fact that strata offices are tightening, and many investors are now looking at shophouses as the next best ABSD-free alternative.

My Advice to You Right Now

Start shortlisting now.

You don’t have to buy tomorrow — but let me walk you through what’s available. I’ll show you which units have real upside, where you can reposition or add value, and which sellers might be more open to negotiation right now.

Once the window closes — and sentiment flips — the opportunity will look very different. And you know how fast that happens in this market.

Let's Chat! 

If you want a second opinion on a deal, or just want to understand the landscape better, you know where to find me.

Text or Call me and let’s get started. I’ll make sure you don’t miss what could be the most overlooked chance in the market right now.