The top transaction of the quarter was the sale of The Rail Mall in Upper Bukit Timah Road for $78.5 million in June.
But property agents say market sentiment has in fact improved, noting that the actual number of sales is higher, owing to more non-caveated transactions. “I sold six shophouses in the past three months, and all the buyers did not want to lodge a caveat as they wanted to keep a low profile,” added Mr Tan.
Based on caveats lodged, District 8 posted the highest number of sales transactions, with eight deals out of the 16 transactions from April to June in 2024, said PropNex. In May, a three-storey conservation shophouse in Telok Ayer Street with a land size of 1,429 sq ft – the only property linked to the money laundering case that had a caveat lodged – was sold for $16.5 million.Singapore shophouse sales surge and prices climb as wealthy investors return: Knight Frank