Medical suites lose their shine for investors

A 700 square feet medical suite at Novena Medical Centre has been empty for three months.
A 700 square feet medical suite at Novena Medical Centre has been empty for three months.PHOTO: ST FILE

Two years ago, Jason (not his real name) bought a medical suite at Novena Medical Centre for $2.5 million.

Jason - an engineer, not a doctor - believed the property was a good investment. He reasoned that he could rent out the 700 sq ft space to medical professionals, given Singapore's status as a medical tourism destination.

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A version of this article appeared in the print edition of The Sunday Times on April 28, 2019, with the headline 'Medical suites lose their shine for investors'. Subscribe