According to the Urban Redevelopment Authority, 7,000 buildings in Singapore have been given conservation status; out of which, 6,500 are shophouses. Those are differentiated from HDB shophouses by their location, almost exclusively in Central Singapore, and for half of them, in historical districts (Kampong Glam, Chinatown and Little India).
On two or three floors, they were built between 1790 and 1960. They are the legacy of Singapore's past and the settlements of European and Asian cultures on the island. Easily recognisable - thanks to their tasteful and colourful appearance, conservation shophouses offer a tremendous potential for retail. Their size, around 1,000 sq ft to 1,500 sq ft on each floor, is most appropriate for small-to-medium companies that seek a "boutique feeling" and a strong identity.
The latest shophouse market trends show a strong price rise in early 2013, following the Government cooling measures on the real estate market. Conservation shophouses provide tenants with cheaper premises than strata units and large malls, and guarantee landlords a quality product with a stable, strong capital appreciation.
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- What are shophouses? <definitions, the different types of shophouse in SG, etc>?
- Where are they located?