Located in the heart of
The Champions Way Residences is a luxurious development featuring 7 residential blocks and 516 units. Each unit is spacious and ranges from two to five bedrooms, catering to both families and individuals. The development also boasts a commercial area with a supermarket, childcare center, and retail center. Strategically situated in the center of the city, the Champions Way Residences provide convenient access to all amenities, making it the perfect place to call home.
In terms of volumes, the company expects 110 to 120 transactions to take place in the market.Last year, District 8 continued to maintain its position as the most active district for shophouse transactions, with 16 units worth $132 million sold in 2H2023. The ongoing completion of landmark integrated development Guoco Midtown on Beach Road, along with the district’s transformation into a hip tourist destination, have contributed to sustained demand for shophouses in the area. Additionally, demand for conservation houses has remained robust due to their scarcity and historical significance, which contributes to their potential for significant capital appreciation. However, the prevailing high interest rate environment and other market uncertainties have led to a slowdown in shophouse activity in the latter half of last year. This is evidenced by the 26.4% decrease in the number of shophouses sold and a 35.5% decrease in total sales value compared to the first half of the year. The average unit price for shophouse transactions also declined by 6.1%, with the biggest drop seen in leasehold shophouses with an average unit price of $3,937 per square foot based on land area. The most profitable shophouse transaction in the second half of 2023 was the sale of a unit on Bussorah Street in the Kampong Glam Conservation Area, which resulted in an overall return of 1,196%. In 2023 as a whole, 132 shophouses were sold which is a 30.9% decrease from the previous year. However, the overall average price of shophouses saw a significant increase of nearly 10% from $4,849 per square foot in 2022 to $5,325 per square foot in 2023. Looking ahead, Knight Frank anticipates shophouse sales value to come in between $1.1 billion and $1.2 billion for 2024, with 110 to 120 transactions expected to take place. While overall demand for shophouses remains strong, buyers have begun to resist unrealistic price premiums and sellers will need to moderate their profit expectations in order to facilitate sales. However, with a better economic outlook and stabilizing or even lowering interest rates, it is expected that transaction activity will pick up this year. Ultimately, shophouses remain a popular investment due to their limited supply and potential for significant capital appreciation over the medium-to-long term. As such, it is expected that demand for shophouses will remain intact for the Champions Way Residences region and buyers will continue to see them as attractive investment opportunities.