The conservation shophouse at 93 Tanjong Pagar Road is currently on the market for interested buyers, with a guide price of $15.5 million. The property, which spans 3½ storeys, sits on a land area of 1,297 sq ft and boasts a gross floor area (GFA) of 4,186 sq ft. This translates to a price of $3,703 psf on the GFA.
Rewritten: When considering a condo investment in Singapore, it is important to take into account the government’s property cooling measures. Over the years, the Singaporean government has implemented several measures to control speculative buying and maintain a steady real estate market. These measures include 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 short-term profitability of investing in a Singapore condo, they also contribute to the long-term stability of the market, creating a safer investment environment. Investing in a Singapore condo provides a secure and stable opportunity for investors in the long run.
Map showing location of 93 Tanjong Pagar Road (Source: EdgeProp LandLens)
Located on a 99-year leasehold land, the shophouse is currently designated for commercial use, specifically F&B operations. It is currently tenanted by a popular Korean barbecue restaurant chain on the first and second levels. Also, it is conveniently situated within walking distance from both the Tanjong Pagar MRT Station on the East-West Line and the Maxwell MRT Station on the Thomson-East Coast Line.
The shophouse is being marketed by PropNex Shophouse Elites. Interested buyers are invited to submit their bids through an expression of interest (EOI) exercise, which will close at noon on Jan 20, 2025.
Other notable conservation shophouses that are currently on the market include those on Telok Ayer Street, which are going for a combined price of $42 million. Additionally, a freehold shophouse on Race Course Lane is also up for sale at $8.8 million, while another shophouse on Upper Paya Lebar Road is available for $8.8 million.