The shophouse market’s full-year transaction volume in 2023 will likely be weaker than the sales in 2021 and 2022, when 253 and 191 deals were closed, respectively.
“In addition, it is possible that the flight-to-safety mindset amongst investors which was rampant following the pandemic outbreak in the past years has waned slightly,” PropNex added. “The shophouse market in 2022 looks on track to underperform the stellar sales achieved in 2022 and 2021,” PropNex commented.
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