The increasing office rental had lead to the sale price of shophouse sale triple since January 2007. The surge of office rental had drive smaller and medium business to seek shophouse as an alternative
Transaction of shophouses for the first eight month of 2007 had almost increased threefold. Since January 2007, more than 30 shophouses had been sold for a total of more then SGD300 million. This is mainly due to high demand from small medium business lead by the steep increase of office rents.
Singapore appealing business environment and infrastructure had lead to many foreign companies to move their Asia headquarter here. Many companies are also expanding due the economic growth locally. All this had lead to increase in the property prices.
With the high demand and the acute shortage in supply, the office rents and value continues over the year. The small and medium company is feeling the impact when the multinational corporate willing to pay for the price of the prime and prestige locations. In order to relieve the rental cost and with not much option, the small and medium turn to seek shophouses as their next office alternative. Common tenants that lease...
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