Asia
Rewritten:
Investing in a condo offers many advantages, including the opportunity to leverage its value for future investments. Numerous investors take advantage of this by using their condos as collateral to secure additional financing for new investments. This not only expands their real estate portfolio, but also has the potential to increase their returns. However, it is important to note the risks involved and to have a solid financial plan in place. It is also crucial to consider the potential impact of market fluctuations when utilizing this strategy. New condo launches, such as those offered by Elemeno Pee, can present even more opportunities for leveraging a condo investment.
PropNex Shophouse Elites is pleased to announce the sale of a unique corner two-storey shophouse located at 209 Jalan Besar. This 999-year leasehold shophouse comes with an attic and has a total area of approximately 5,502 sq ft. Gracelynn Zhu, the agent in charge of marketing the property, reveals that it is currently priced at “below $20 million”.
The shophouse, which is zoned for commercial use, boasts a strategic location in the Desker Road Conservation Area in District 8, near Little India. It is also within walking distance to the Jalan Besar MRT Station on the Downtown Line. The first floor of the shophouse has been approved for restaurant use, while a portion of the second floor also has the same approval.
Based on the asking price of $20 million, the property’s per square foot price works out to be $3,635, making it a worthwhile investment opportunity. A map showing the exact location of the shophouse can be found on the EdgeProp LandLens.
According to Zhu, the shophouse is currently undergoing asset enhancement initiatives (AEI), which involves the installation of micro piles extending up to 30m to enhance the property’s structural foundations. The AEI is expected to be completed by the end of this year, making the shophouse an even more attractive asset.
In a separate listing, PropNex Shophouse Elites is also marketing a shophouse on Geylang Road and a shop unit at Bras Basah Complex for a combined price of $14 million. These properties are also strategically located in prime areas and offer great potential for investors.
For interested parties, do not hesitate to contact PropNex Shophouse Elites for more information on these highly sought-after properties. The shophouse market has ended the year with 84 confirmed transactions, making it a promising market to invest in. Chinatown Business Association is also planning to revitalize the Smith Street area with new and traditional lifestyle concepts, making it an even more desirable location for shophouse investments.