'Ridiculous' $6k rental bid for hawker stall raises eyebrows
A hawker stall at Dunman Food Centre drew five bids in Oct 2024, the highest reaching $6,929 as reported by 8world on Nov 18.
The winning bid came from the son of an existing hawker in the same row of stalls.
The price has raised eyebrows among other hawkers.
One called the rate "ridiculous", while another worried about justifying prices to customers.
This bid was placed in the final round of bidding, just before the National Environment Agency (NEA) implements its new rental renewal policy.
In the past, prospective tenderers may have submitted excessively high bids to secure their preferred stall. Under the new policy, rent will only return to market prices by the third tenancy term instead of the first.
Rent will also only reduce by 50 per cent of the difference between the tendered rent and the market rate, which may cause prospective tenderers to reconsider putting in high bids.
A similar situation unfolded at Toa Payoh’s Lorong 8 hawker centre, with the highest bid hitting $6,508 — a record high since 2021, according to 8world.
Chairman of the Toa Payoh Lorong 8 Shop Market Association, Chong Yan Chang, noted that current economic conditions necessitate lower prices for hawkers to remain viable, urging vendors to enhance their competitiveness to survive.
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