Hawker stall rents down to as low as $21 after rules changed
More than half the successful new bids are below original reserve rents
Some hawker stall rents have dropped to as low as $21 a month after reserve rents were removed by the Government in March, and stalls that were vacant for a year are now filled, the National Environment Agency (NEA) said on Tuesday.
While lower rents could help those who want to set up shop, they do not necessarily mean that food will be cheaper.
Previously, hawkers paid a minimum price set by the agency, which oversees wet markets and hawker centres. But that policy ended in March as one way to curb skyrocketing stall rental costs.
Besides removing reserve rents, the NEA now rents out hawker stalls that receive single bids over two tenders, rather than requiring competition from multiple bidders. It has also banned new stallholders from subletting their stalls.