30 September 2023, Singapore, Singapur: The famous Haji Lane in the Kampong Glam district is lined with fashion boutiques, street art and trendy cafés. It is a popular tourist destination. Photo: Carola Frentzen/dpa (Photo by Carola Frentzen/picture alliance via Getty Images)
(picture alliance via Getty Images)
Shophouse transactions in Kampong Gelam have “declined sharply” in recent years, and the majority of buyers are Singaporeans, the Urban Redevelopment Authority (URA) said on 6 Apr. The clarification comes after TikTok videos suggested that foreigners were snapping up large numbers of properties in the area, including along Haji Lane.
“This has raised concerns about the potential impact on property values as well as the sustainability of heritage businesses, and the district’s cultural identity,” URA said in a Facebook post.
