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РусскийShophouses — Projects Distributed by HPR
A shophouse combines business premises with living or office space. Here is what to know before buying, with the list of projects with shophouses that HPR advises on.
A shophouse is a building whose ground floor, and sometimes also the second floor, is used as a shop or office, with the upper floors for living or renting out. A shophouse can be part of a low-rise row facing a main road in a township, or a podium unit at the foot of an apartment tower.
Why buyers look at shophouses
- Business premises. A position on the main road, near the township gate or the building entrance gives access to residents and passers-by.
- Live and do business in one place. You can run your own business downstairs and live upstairs, or rent out parts of the building.
- Serving residents in the area. As the township or building fills with residents, demand for convenience stores, cafés, clinics and small offices grows.
- Clearer deposit rules. For off-plan shophouses, the 2023 Real Estate Business Law only allows a deposit of no more than 5% of the sale price once the project is eligible for sale. The first payment may not exceed 30% of the contract value, including the deposit.
The value of a shophouse depends heavily on the actual number of residents. Newly handed-over areas usually take time to fill up. Nobody can guarantee rental income in advance.
What to check before you buy
- Land type and ownership term: a shophouse may sit on long-term residential land or on fixed-term commercial and service land. Ask clearly which type of certificate will be issued and the term stated on it.
- Business rights: permitted business types, opening hours, signage rules and customer parking.
- Resident numbers and foot traffic: count how many units have been handed over and are occupied. Check whether the unit is on the residents' main walking route.
- Management fees and operating costs: podium shophouses usually have their own fees, different from the apartments above.
- Actual rents in the area: compare with similar premises nearby, and include vacant time while finding a tenant.
How HPR can help
The list of projects with shophouses that HPR distributes is right below. HPR consultants will send you current price lists and sales policies, and help you compare the position of each unit. You can work out your home-buying cash flow and check a project's legal status with HPR. If you have a shophouse to resell or rent out, see our consignment service.
