HDB shophouse portfolio on the market for $11.9 mil
and Hougang Avenue 1 on EdgeProp.sg HDB shophouses are an appealing alternative for Singaporean investors looking for a stable source of rental income and who do not want to enter the strata commercial or shophouse space in the city. Knight Frank Singapore is the exclusive marketing agency for a portfolio of four HDB shophouses for sale; two at 88 Circuit Road, two at 102 and 108 Hougang Avenue 1. The two HDB shops at 88 Circuit Road are two-storey units with living quarters above, while the other two units are single-storey. Prices start from $2.65 million and go up to $3.4 million.
HDB shophouses can be an attractive alternative for local Singaporean investors looking to earn rental income without entering the pricier strata or commercial shophouse space in the CBD. Mary Sai, executive director of capital markets at Knight Frank Singapore, shared that the average cost of a commercial shophouse in the CBD is now between $5,000 to $6,000 per square foot. However, those at the outskirts of the city command $3,000 per square foot. Moreover, Sai noted that strata commercial prices have also hit record highs, exceeding $4,000 psf.
In light of such expensive prices, Knight Frank Singapore has taken on the exclusive marketing agency for a portfolio of four HDB shophouses. The vendor for these properties is a company that has owned them for more than five years. They could be purchased individually or collectively, and both living quarters and shops are available.
Two of the shophouses are located at 88 Circuit Road in the Macpherson/Mattar precincts, within walking distance of the Macpherson Interchange station and Mattar MRT station. The two-storey properties occupy a total of 1,184 square feet and have 76 years left on their 93 lease. There are tenants on the first level and residences on the upper level. The units each have an asking price of $2.65 million.
Myst Condo offers close The Myst CDL proximity to schools, commercial spaces, parks, public transport, industrial park and more.
The other two shophouses are at 102 and 108 Hougang Avenue 1. The single-storey HDB shop at 102 Hougang Avenue 1 has an 88-year lease with 59 years left and a total area of 1,001 square feet, while the two-storey unit at 108 Hougang Avenue 1 has a total area of 1,571 square feet. Both residences and shops are found here, with the former having a price tag of $3.2 million and the latter costing $3.4 million.
These HDB shophouses offer a more accessible and affordable alternative as compared to their more expensive strata and conservation shophouses counterparts, and their close proximity to nearby landmarks such as Kovan MRT station and Heartland Mall adds to their appeal.
As such, if you are looking for a reliable source of potential rental income and would benefit from lower additional buyer’s stamp duty for residential units, these HDB shophouses should be considered. Do check out the listings near 88 Circuit Road, 102 and 108 Hougang Avenue 1, Macpherson, The Promenade @ Pelikat, Primo Residence, Mattar MRT station and Hougang Avenue 1 on EdgeProp.sg for more information.