Singapore shophouses are conservation-status heritage buildings (built 1840s–1960s, mostly 2-3 storeys) protected by URA. They serve as commercial-residential hybrids — ground floor for retail/office, upper floors for residential or office. As of 2026, conservation shophouses trade at S$5-25M, with Chinatown and Tanjong Pagar commanding highest premium. No ABSD applies; GST 9% on purchase.
Shophouse characteristics
- Heritage protection: URA conservation prevents exterior modification
- Two zoning options: Commercial-only or mixed-use (residential + commercial)
- Typical size: 2,500-5,000 sqft built-up; narrow + deep layout
- Five-foot fronting: Mandatory covered walkway architecture
- Restoration costs: S$300k-S$1M renovation common
Top shophouse districts
| District | Area | Typical price |
|---|---|---|
| D2 | Tanjong Pagar / Telok Ayer | S$8-20M |
| D6 | Chinatown / Maxwell | S$10-25M |
| D7 | Bugis / Beach Road | S$6-15M |
| D14 | Geylang / Joo Chiat / Katong | S$5-12M |
| D8 | Little India / Jalan Besar | S$5-10M |
Shophouse returns
Mixed-use shophouses can blend retail rent (ground floor) + office or residential (upper floors). Gross yield 3-5%; capital appreciation steady due to limited supply (no new shophouses built).
Source: URA conservation guide.
FAQ
Can foreigners buy shophouses?
Yes for commercial-zoned. Mixed-use with residential component may require LDAU approval.
Is renovation flexible?
Interior renovation flexible; exterior protected by URA conservation rules.
Why are shophouses appreciating?
Fixed supply (no new construction); growing demand for boutique commercial space; lifestyle appeal.