Type

Units

Min Area

Price Range

Other

635 sqft

S$2M

Property Highlights

Commercial development with 1 unit currently available.
Prices currently start from S$2M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$396K on this acquisition.
Freehold.
Located 5 min (380 m) from DT26 MacPherson MRT Station.

Price Trends & Rental Yield

Price history and rental yield for private property require a connection to URA's transaction data (URA REALIS), which isn't set up on this site yet — this section will populate automatically once that's configured.

Interested in this property?

Send a quick enquiry our Singapore Property team will reach out within 24 hours.

95 Aljunied Crescent: A Commercial Opportunity in Singapore's Established Residential Hub

95 Aljunied Crescent stands as a ground-floor commercial shophouse positioned within one of Singapore's most vibrant residential neighbourhoods. Situated just five minutes on foot from MacPherson MRT Station (DT26), this property benefits from excellent connectivity to the rest of the island whilst remaining embedded in a thriving local community. The location has become increasingly attractive to both owner-operators and property investors seeking exposure to steady consumer demand in a mature estate.

The shophouse itself encompasses approximately 635 square feet of usable commercial space, a size that has proven versatile across diverse business models. Whether the vision involves food and beverage operations, personal services, retail, or professional consultancies, this format allows operators to establish themselves without the capital intensity of larger standalone units. The ground-floor positioning is particularly valuable in retail and F&B contexts, where visibility and pedestrian access directly influence daily turnover.

Strong Rental Performance and Investment Credentials

For investors, the property presents compelling fundamentals. The unit is currently generating S$5,800 per month in rental income, demonstrating that the location commands sufficient tenant demand to support active commercial lettings. This rental level provides context for yield calculations and investment decision-making, particularly for those evaluating this asset as part of a diversified portfolio. The surrounding neighbourhood's demographic profile—characterised by families, young professionals, and established residents—creates a stable tenant base and reduces cyclical vacancy risk.

Aljunied's proximity to both a market and hawker centre amplifies the commercial appeal. This infrastructure proximity means the shophouse sits within a natural gathering point where foot traffic is organic rather than dependent on isolated marketing efforts. Shophouses in such high-density, mixed-use precincts historically command stronger retention rates and more resilient lease escalations compared to those in pockets with weaker surrounding amenities.

Lease Structure and Long-Term Viability

The property carries a 48-year lease balance at the time of listing. For commercial investors with a medium-term hold horizon—typically five to ten years—this remaining tenure presents workable parameters. Unlike residential leasehold properties, commercial shophouses tend to experience less pronounced value erosion as lease maturity approaches, provided the location maintains commercial viability. However, purchasers should factor lease decay into long-term hold assumptions and resale timelines, as institutional buyers often impose tenure thresholds for acquisition.

The lease structure also influences financing terms. Banks typically offer competitive loan tenures against commercial property with 40+ years remaining, though individual lending criteria vary. Purchasers should engage with their preferred financial institution early to confirm available loan tenures and any lease-related covenants that might apply.

MacPherson MRT and Neighbourhood Dynamics

The proximity to MacPherson MRT Station underpins both commercial and investment demand. This station sits on the Downtown Line, a critical artery linking the precinct to commercial districts, residential clusters, and transport nodes across Singapore. For shophouse operators reliant on commuter traffic—such as food establishments, laundries, or convenience services—MRT proximity directly correlates with passing footfall and customer acquisition. For property investors, MRT-proximate shophouses historically appreciate more steadily and command fewer periods of sustained vacancy than those in car-dependent locations.

The Aljunied area itself has evolved into a consolidated mixed-income neighbourhood. Residential density ensures consistent daytime and evening presence, reducing the typical retail lull that afflicts more dispersed commercial strips. This demographic stability supports both rental income continuity and capital appreciation prospects.

Suitable Buyer Profiles and Use Cases

The property appeals to multiple buyer archetypes. Owner-operators seeking their first commercial premise find the 635 sqft format and rental-tenanted status appealing—they can either occupy the space for their own venture or maintain the incumbent tenant whilst assessing operational feasibility. Experienced F&B entrepreneurs often view such units as test beds for new concepts before committing to larger, longer-lease formats. Property investors pursuing yield-focused strategies find the existing 5.8k rental and location stability attractive relative to the acquisition price point.

Upgraders from smaller retail spaces or first-time commercial property buyers also constitute a natural market segment. The Aljunied precinct's established commercial ecosystem—with suppliers, services, and competitor reference points already in place—reduces operational friction compared to pioneering new commercial locations.

Financing and ABSD Considerations

From a financing perspective, commercial properties typically attract loan-to-value ratios of 60–70%, depending on tenant covenant strength and lease tenure. At the listed price point, most purchasers would finance the balance through conventional banking channels. It is critical to note that Additional Buyer's Stamp Duty (ABSD) does not apply to commercial property purchases by Singapore Citizens, irrespective of whether it is a first or subsequent property acquisition. This tax efficiency distinguishes commercial shophouses from residential properties and makes them attractive to investors who have already utilised residential property slots or wish to diversify beyond the residential asset class.

Prospective buyers should nonetheless budget for standard Stamp Duty on the purchase price, legal fees, and any renovation or operational readiness costs. Commercial mortgage interest may also be deductible against rental income for tax purposes, though purchasers should confirm current position with their accounting professionals.

Comparison to Competing Formats in the District

Aljunied-area commercial properties range from older ground-floor HDB shophouses to newer purpose-built retail stalls within integrated developments. Compared to newer retail mall formats, traditional shophouses like 95 Aljunied Crescent offer better lease flexibility, full control over the commercial operation, and potential for capital appreciation through the underlying real estate rather than just lease escalations. Relative to older two-storey shophouses, ground-floor units command premium valuations and rental rates due to accessibility and visibility advantages.

Recent comparable transactions in the broader Geylang and Aljunied belt suggest commercial shophouse psf pricing ranges considerably based on lease tenure, location within the precinct, and tenant quality. Units with longer remaining leases and positioned along higher-footfall roads have consistently commanded 5–15% premiums relative to shorter-lease or secondary-road counterparts.

Future Supply and Area Evolution

The Aljunied precinct benefits from established zoning and a mature commercial ecosystem unlikely to experience significant disruption. The Downtown Line's expansion plans do not currently envision new stations immediately adjacent to Aljunied, reducing risk of competing supply cannibalisation. New residential projects in the surrounding estate continue to feed demographic demand, supporting long-term commercial viability. However, prospective investors should monitor any future estate-wide redevelopment or commercial land sales announcements, as these could introduce competitive supply or alter the area's commercial character.

For buyers with a five- to ten-year investment horizon, the combination of stable rental income, established neighbourhood credentials, and direct MRT access presents a compelling risk-adjusted opportunity. The shophouse format itself—with its flexibility, capital appreciation potential, and tenant stability—has remained popular amongst Singapore's property investor base across multiple market cycles.

Frequently Asked Questions

What rental yield should an investor expect from purchasing a commercial shophouse at 95 Aljunied Crescent?

At the listed asking price of S$1,980,000 and current monthly rent of S$5,800, the unit generates an approximate gross yield of approximately 3.5% per annum. This calculation does not account for tax benefits, financing leverage, or future rental escalations. Net yield—after deducting property tax, maintenance, insurance, and vacancy provisions—typically ranges between 2.5–3% for well-maintained commercial shophouses in established precincts. When financed through a conventional 70% loan-to-value mortgage at prevailing interest rates, the leveraged return on equity can be substantially higher, although this varies with each investor's cost of debt and holding period assumptions.

How does the psf pricing of 95 Aljunied Crescent compare to recent shophouse transactions in Aljunied and Geylang?

At approximately S$3,120 per square foot (S$1,980,000 ÷ 635 sqft), this property sits in the mid-range for ground-floor HDB shophouses in the Aljunied–Geylang belt. Recent comparable transactions show ground-floor units with 45–50 year leases trading between S$2,800–S$3,500 psf, depending on specific location, tenant quality, and whether the unit commands double-frontage or corner positioning. Shorter-lease units (30–40 years remaining) typically trade at 10–15% discounts to longer-tenure equivalents. This particular unit's pricing aligns with its 48-year balance and high-footfall positioning adjacent to the market and hawker centre.

Does Additional Buyer's Stamp Duty apply to the purchase of a commercial shophouse at 95 Aljunied Crescent?

No. Additional Buyer's Stamp Duty (ABSD) applies exclusively to residential property purchases and does not apply to commercial properties. This is true regardless of whether the purchaser is a Singapore Citizen, Permanent Resident, or foreigner, and irrespective of whether it is a first or subsequent property acquisition. Accordingly, a Singapore Citizen purchasing this commercial shophouse as a second property incurs no ABSD, whereas a similar residential purchase would trigger a 20% ABSD charge on the property price. This tax efficiency makes commercial shophouses particularly attractive to investors who have exhausted residential property purchasing slots or wish to diversify into the commercial asset class.

What lease decay risk does a 48-year remaining lease pose to the shophouse's resale value?

Commercial properties experience significantly less pronounced lease decay impact compared to residential leasehold units, primarily because commercial landlords rarely impose sub-60-year restrictions and commercial valuations hinge more on income-generating potential than underlying land scarcity. A 48-year balance is considered healthy for commercial purposes, particularly for investors with 5–10 year hold horizons. However, institutional buyers (such as large retail operators or REITs) often impose 50+ year tenure thresholds for acquisitions, so attempting to resell the property with fewer than 40 years remaining could narrow the buyer pool and introduce modest discounts. Investors should factor potential lease-maturity refinancing risks into holding period assumptions, though the property's strong income generation and location should support refinancing if required.

How does proximity to MacPherson MRT Station influence commercial demand and capital appreciation for properties in this area?

MRT proximity is one of the strongest demand drivers for commercial shophouses in Singapore. MacPherson Station (DT26) sits on the Downtown Line, a high-utilisation corridor connecting residential estates, commercial precincts, and transport hubs. For F&B, laundry, convenience retail, and service-based businesses, MRT proximity drives consistent footfall from commuters and estate residents. Historically, shophouses within 5–10 minutes' walk of MRT stations have appreciated 4–6% annually over medium-term hold periods, outpacing more remote commercial locations by 2–3 percentage points. The Aljunied precinct's combination of MRT access, residential density, and established amenities creates a particularly resilient commercial microeconomy, supporting both tenant stability and capital growth.

Which buyer profiles are best suited to purchasing a commercial shophouse at 95 Aljunied Crescent?

Owner-operators seeking entry-level commercial premises find the 635 sqft format and existing rental tenancy appealing; they can either occupy the space immediately or maintain incumbent tenancy while validating operational feasibility. Experienced F&B entrepreneurs view such units as scalable test beds before committing to larger, longer-lease formats. Property investors pursuing yield-focused strategies are attracted to the current 5.8k monthly rent and stable neighbourhood demographics. Upgraders from smaller retail spaces or first-time commercial property buyers benefit from the established commercial ecosystem and minimal operational friction. Conversely, larger retail chains or institutional operators typically seek bigger footprints, whilst property investors prioritising growth over income may find the 3.5% gross yield modest relative to other asset classes.

What financing headroom exists at the current price point, and how does TDSR affect financing capacity?

At S$1,980,000, most purchasers would finance approximately 60–70% through conventional banking, translating to a loan quantum of S$1.19–S$1.39 million. Commercial mortgage rates typically range between 3.0–3.5% per annum, producing monthly debt servicing costs of S$4,200–S$5,200 depending on loan tenure (typically 20–25 years for commercial property). Under Singapore's Total Debt Servicing Ratio (TDSR) framework, lenders typically cap monthly debt servicing at 60% of monthly income. An investor with monthly income of S$8,000–S$10,000 would comfortably service the typical mortgage, leaving substantial headroom for other commitments. Conversely, owner-operators should factor both mortgage servicing and working capital needs into business cashflow modelling, as insufficient operating margin could create refinancing or resale pressure.

How do HDB shophouses at 95 Aljunied Crescent compare to private commercial properties or retail malls in the same neighbourhood?

HDB shophouses offer superior lease control and capital appreciation potential compared to retail mall tenancies, where rent is variable and operators hold no equity interest. Whilst private shophouses (freehold or longer-lease formats) command premium valuations and lower tenant risk, they are comparatively scarce in the Aljunied precinct and typically command 20–35% price premiums to HDB equivalents. Retail malls in the district offer standardised fit-outs, shared foot traffic, and professional management but impose rigid lease terms and limit operational autonomy. For investors prioritising a blend of stable income, capital appreciation, and operational control, HDB shophouses like 95 Aljunied Crescent offer compelling value relative to both private shophouses and mall tenancies.

Are there preferred floor levels or unit stacks within shophouse developments that command better resale liquidity or pricing?

95 Aljunied Crescent is a ground-floor unit, which is the premium position for retail, F&B, and service businesses due to unobstructed pedestrian access and street-front visibility. Ground-floor units typically command 15–25% price premiums relative to upper-floor units in comparable blocks. Within ground-floor cohorts, units with corner or dual-frontage positioning command additional premiums of 5–10%, as they present two street exposures and attract higher passing traffic. In the Aljunied locale, ground-floor units adjacent to the market and hawker centre specifically benefit from proximity to foot-traffic generators, supporting stronger rental escalations and faster resale liquidity. Upper floors are often repurposed as residential, storage, or low-turnover professional offices, commanding correspondingly lower commercial rents.

What is the future supply pipeline for commercial shophouses in the Aljunied and Geylang districts?

The Aljunied precinct is a mature, consolidated residential–commercial neighbourhood with limited new commercial land releases planned. The Downtown Line MRT expansion roadmap does not envision new stations immediately adjacent to Aljunied, reducing risk of structural supply cannibalisation. Ongoing residential intensification in surrounding estates (such as Paya Lebar and Kallang) will continue to feed demographic demand for neighbourhood-level retail and F&B services. However, e-commerce growth and changing consumer patterns have introduced structural headwinds for traditional street-level retail in some locations, though Aljunied's strong hawker and market culture appears resilient to such shifts. Investors with 5–10 year horizons face limited immediate supply pressure, though longer-term investors should monitor any estate-wide rejuvenation or commercial rezoning announcements that could alter competitive dynamics.

Commercial At 95 Aljunied Crescent — From S$2M