Let’s take a peek into the luxurious and unique properties in Singapore.
They’re exclusive and relatively elusive; and giving us a rare glimpse into this particular property scene, we have Jeremy Lim from Huttons.
Specialising in luxury properties and conservation houses in some of Singapore’s most prestigious districts, Jeremy successfully transacted approximately S$350 million dollars’ worth of properties in just the last 5 years.
With such an impressive portfolio and credible track record, it’s no wonder that most of Jeremy’s clientele are HNWIs (High-Net-Worth Individual) with property interests both in Singapore and abroad.
So, what sort of properties have Jeremy helped his clients? Today, we look at 2 main ones – luxury condominiums and shophouses.
Luxury Condominiums
Having dealt with high profile developments like New Futura, Gramercy Park, OUE Twin Peaks, The Avenir and Martin Modern – Jeremy is no stranger to what HNWIs look for in their residential purchases.
Selected Locations
Indeed, when it comes to real estate, it all boils down to location, location, location.
Specialising in Districts 9 and 10, Jeremy also needs to pay special attention to hunt for properties in selected small clusters for his clients.
Landscaping and Size
Most HNWIs are already used to living in larger spaces and therefore have the same ask for their luxury condominiums. We’re looking at houses with a minimum of 1,500 square feet, which are slightly larger than our HDB jumbo flats.
Alongside, the land size of the entire development is preferred to be at least 80,000 to 100,000 square feet in total – with scintillating landscaping to boot.
Reputable Developer
Having a reliable, reputable and big developer brand name behind the condominium is also an essential to Jeremy’s clients. It’s not just for namesake though; it actually comes down to the trust in the developer delivering their desired level of quality and finishing to the property.
Shophouses
With only 6,500 conservation shophouses on our bustling red dot, Singapore’s shophouses are a rarity and is a popular wealth preservation choice for HNWIs.
However much like fingerprints or snow flakes, every single shophouse is unique – which where Jeremy comes in to help his clients understand them better.
But why are conservation shophouses so popular? Well, it could be due to their extremely limited supply and versatility.
For Investment and Wealth Preservation
“The supply of shophouses in Singapore is fixed and it’s precisely because of this, that makes it great for wealth preservation and investment.”
In fact, according to Jeremy, not only is the supply fixed – but the demand for shophouses is growing. So much so that its price per square feet has increased by a whopping 50% over the years.
And shophouses are also great for different businesses, with more moving out of malls and into shophouses.
“For those who buy the shophouse, it’s also rent control. It’s a long-term investment as they save big on rental.”
For Running an F&B Business
Could be the ambience it brings, but shophouses are definitely popular location for restaurants (just think of the entire stretch of endless Korean BBQs along Tanjong Pagar).
Having a restaurant in a shophouse also attracts tons of walk-in customers; especially when you’re strategically placed in a cluster of similar F&Bs.
“You need to think of what type of people you’d like to attract to your shophouse. For F&B, you want a location that is able to attract people 7 days a week.”
Might sound like a ‘basic’ deliverable, but it’s actually a lot harder than it looks. It’s finding the perfect convergence of accessibility, surrounding amenities, nearby residences and much more; for Jeremy to find the ‘perfect’ shophouse for his client.
For Established Local Retailers
Offering much more operational and renovations freedom compared to shopping malls, shophouses is also popular amongst retailers.
“For retailers, you want to look at the frontage of the shophouse. And another actor often overlooked is the flow of traffic in front of your shop.”
Speaking like a true shophouse expert, Jeremy shared that not only is parking availability a consideration; you need to consider the direction of traffic in front of your shophouse, as it impacts its accessibility.
There is a multitude of factors to consider when you’re looking at shophouses and countless details one needs to be careful about. However, time is also of the essence, given the limited supply of shophouses.
Especially with shophouses in District 7, like this one along Tan Quee Lan Street, Jeremy is confident of how much promise it holds:
With exciting upcoming launches like Midtown Bay and The M coming up in District 7, coupled with the nearby popular Bugis shopping district – it’s definitely one of the places to look out for!
However much like how every shophouse is unique, each district also has its own allure. You’ll need a real estate professional with in-depth understanding and instinctive foresight to advice you along.
PropertyGuru would like to thank Jeremy for his incredible sharing and insights on this niche part of Singapore’s property market!
Being a better partner for you,
PropertyGuru Team
