$4.5m profit in 14 months: Soaring demand continues to push up prices of S'pore shophouses

There were 114 shophouse sales in the first six months of the year worth $938.8 million in all. ST PHOTO: DESMOND WEE
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SINGAPORE - 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.

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