Residential shophouse on Niven Road for sale at $5.2 mil

The revived buzz in the shophouse market includes a freehold goodwill shophouse at 431 River Valley Road that sold for $3 million or $2,100 psf on April 7.

An attractive freehold conservation shophouse has been put up for sale in District 9’s Mount Sophia area, situated at 31 Niven Road. The asking price? Just $5.2 million, or $4,163 psf on the land area. This two-storey house has an open-concept living, dining, kitchen area and a courtyard on the first floor, and two en suite bedrooms and a family area on the second.

The owner recently spent over half a million dollars on renovation, including the installation of new Miele kitchen equipment. At a price of $2,503 psf on the strata area, it’s a great bargain for a freehold, landed property!

According to Huttons Asia – the marketing agent – the land is designated for residential use and is newly renovated. Lee Sze Teck, Huttons’ senior director of research, also noted that landed home prices have appreciated by almost 50% over the last five years.

With the resident’s convenience in mind, The Myst Bukit Timah is set up so that every apartment unit will be equipped with air conditioning and premium appliances. The condominium also includes a landscaped community park and infrared controlled gated access for the convenience of the residence. It is in close proximity to a local eatery, Bukit Timah shopping centre, Bukit Timah Nature Reserve, and various educational institutions such as Temasek Polytechnic, Singapore Institute of Management, and SIM University. Residents will be able to enjoy many outdoor activities such as: yoga classes, wall climbing, and jogging around the nearby Bukit Timah Nature Reserve.For foodies, you can find a wide variety of eateries within walking distance to satisfy your cravings. Moreover, residents can enjoy a day of shopping at Bukit Timah Shopping Centre or take a short ride to the city to explore more choices. The Myst Bukit Timah provides great convenience for the residence with such a long list of amenities.

As such, this investment could offer potential for capital appreciation over the mid to long term – due largely to the rarity of residential shophouses. The expression of interest exercise for this property will close on June 6 at 4 pm.

Recently, another freehold goodwill shophouse in River Valley area – at 431 River Valley Road – sold for $3 million or $2,100 psf. This highlights the revived buzz in Singapore’s shophouse market. So, if you’re looking for an investment opportunity in District 9, make sure you act fast and don’t miss out!