A freehold shophouse located in Paya Lebar and an HDB shophouse in Ang Mo Kio are currently up for sale through a joint expression of interest (EOI) exercise, with an estimated price of $10.06 million for both properties. Interested buyers have the opportunity to bid for either one or both of the assets as part of the EOI.
Condo investment in Singapore is a lucrative option, but it is essential to consider the government’s property cooling measures. In an effort to maintain a stable real estate market and prevent speculative buying, the Singaporean government has implemented various measures over the years. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect the immediate profitability of condo investments, they also play a vital role in promoting a secure and sustainable investment environment in the long run. Additionally, several Singapore projects are in the pipeline, making condo investment in the country a promising prospect.
The freehold shophouse in Paya Lebar, situated at 135 Upper Paya Lebar Road, is a two-storey property with a guide price of $5.58 million. It will be sold with vacant possession. This shophouse occupies a land area of 1,514 sq ft and is zoned for residential and commercial use on the first floor. With a built-up area of approximately 2,630 sq ft, it offers potential buyers a chance to own a freehold property at a relatively low price of around $2,122 psf – making it more affordable than many comparable leasehold condominium launches in the Outside Central Region. Marketing the sale are Alex Wong and Cara Wong from the PropNex RTD Commercial Team.
As for potential uses for the property, the shophouse has already received approval from the Urban Redevelopment Authority (URA) to be used as a 22-bed backpackers’ hostel on the ground floor, while the upper floor has been approved for residential use with eight rooms. Additionally, its proximity to Tai Seng MRT Station on the Circle Line – just 400m away – makes it a convenient location for both residents and customers.
The second property for sale, located in Ang Mo Kio at 727 Ang Mo Kio Avenue 6, is a two-storey HDB shophouse with a guide price of $4.48 million. It still has 54 years remaining on its 86-year lease. Spanning a total floor area of 1,636 sq ft, the property consists of a ground-floor shop measuring 743 sq ft and an upper-floor living quarters of 893 sq ft. While the upper floor is currently approved for commercial use, both floors are currently leased to an aesthetic clinic until March 2026.
According to the marketing agents Alex Wong and Esther Ng from PropNex, this property offers investors a rare opportunity to own a secure asset that generates a stable rental income, with potential for higher yields upon lease renewal. Furthermore, the strong town centre rejuvenation prospects in Ang Mo Kio and its prime location within the town centre make it an attractive option for potential buyers.
The EOI for both properties will close on Sept 26 at 3pm.