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$4.5m profit in just 14 months as shophouse changes hands again
Prices of shophouses spike as scarcity and demand for such units draw investors
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The owner of a shophouse near Bugis has walked away with a remarkable profit of $4.5 million after owning the property for just 14 months - as stark a sign as any of just how hot the market is for these properties.
The 1,149 sq ft freehold unit at 148 Arab Street was bought for $5.5 million in February 2021 and offloaded in April 2022 for $10 million.
