business / news / / The Straits Times
Shophouse sales in Kampong Gelam have “declined sharply” in recent years.
Shophouse sales in Kampong Gelam have declined by 60% since 2023, according to URA data.
KEY POINTS
- Local buyers accounted for about 75% of Kampong Gelam shophouse transactions from 2020 to 2025.
- Only one shophouse in Kampong Gelam was purchased by a foreign buyer in 2024.
- Since June 2025, URA has banned new souvenir shops in Kampong Gelam to preserve its character.
- Median shophouse rent in Kampong Gelam was $6.19 psf in 2025, below the Singapore median.
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