What is the Average Price of Commercial Property in Singapore? (2025 Market Guide)

Introduction

For investors, business owners, and even foreign buyers, one of the most common questions is:

“What is the average price of commercial property in Singapore?”

The answer depends on the type of property (office, retail, shophouse, industrial), location (CBD vs city fringe vs suburban), and tenure (freehold vs leasehold).

This 2025 guide provides a breakdown of the latest market prices.

1. Average Price of Office Space in Singapore

Strata Office Units (For Sale)

  • CBD Grade A locations (Raffles Place, Marina Bay, Shenton Way):
    ~ S$2,800 – S$4,200 psf

  • CBD Grade B & Fringe CBD (Tanjong Pagar, Cecil Street, Beach Road):
    ~ S$2,000 – S$3,200 psf

  • City Fringe (Bugis, Novena, Paya Lebar):
    ~ S$1,800 – S$2,600 psf

Example:
In 2024, a strata office unit at 148 Cecil Street (Solitaire on Cecil) transacted at ~S$4,200 psf, reflecting ongoing demand despite high interest rates.

2. Average Price of Shophouses in Singapore

Shophouses are among the most in-demand commercial assets.

  • Prime Districts (CBD, Chinatown, Boat Quay, Tanjong Pagar):
    ~ S$5,500 – S$7,500 psf 

  • City Fringe (Jalan Besar, Little India, Geylang, Balestier):
    ~ S$1,800 – S$5,000 psf 

  • Suburban areas:
    ~ S$1,700 – S$3,800 psf 

Example:
A conservation shophouse along Telok Ayer Street was sold in early 2025 for over S$14M (~S$12,400 psf on land), showing healthy investor appetite.

3. Average Price of Retail Units in Singapore

Retail performance varies by location and footfall:

  • Orchard Road malls:
    ~ S$4,000 – S$6,000 psf

  • Suburban/Heartland Retail:
    ~ S$2,000 – S$4,500 psf

Retail rents have been recovering since COVID-19, and prices have followed suit, particularly in suburban shop with strong tenant demand.

4. Factors Affecting Commercial Property Prices

  1. Location: CBD vs city fringe vs suburban.

  2. Property Type: Office vs retail vs shophouse.

  3. Tenure: Freehold commands premium vs 99-year leasehold.

  4. Unit Size: Smaller strata units may command higher psf.

  5. Market Conditions: Interest rates, URA supply, rental demand.

5. 2025 Market Outlook

  • Offices: Limited new supply keeps CBD prices stable.

  • Shophouses: Prices expected to remain resilient due to scarcity value.

  • Retail: Suburban shops see higher demand with changing consumer habits.

Price Range Snapshot (2025)

Property Type Prime CBD City Fringe Suburban
Office (psf) S$2,800 – S$4,200 S$2,000 – S$3,200 S$1,800 – S$2,600
Shophouse (psf land) S$5,500 – S$7,500 S$1,800 – S$5,000 S$1,700 – S$3,800
Retail (psf) S$4,000 – S$6,000 S$2,000 – S$4,500

Conclusion

So, what is the average price of commercial property in Singapore in 2025?

Ultimately, prices vary by type, location, and demand. Shophouses remain the most expensive, and offices the most balanced between yield and appreciation.
The chart shown here served as a guide. Prices may vary due to conditions, level, or rental price.

If you’re exploring commercial property investments, check our curated listings at ShophouseOffice.com or reach out for tailored advice.