Marine Parade hawker places record S$10K bid for stall as she believes it’s a worthwhile investment, but other hawkers disagree
The National Environment Agency oversees the management of all 120 hawker centres in Singapore and their 14,000 stalls and has not officially confirmed the record bid. This adjustment is based on an independent professional valuation considering footfall, stall size, and current market conditions. If the initial rent is above the market rate, it will be reduced; if it is below, it will be increased accordingly.
“Everything in Marine Parade is ‘expensive’, from home prices to shop rentals,” Ms Yang explained in Mandarin. She also noted that the location of this stall is superior to another in the same hawker centre that was rented out for S$6,800 last September. Mdm Lai, a roast duck seller with three decades of experience, echoed Mr Vijai’s concerns, stating that business has not improved significantly and that the current footfall would not cover such a high rental.
As the tender results await announcement, Ms Yang’s record bid is a testament to her faith in the Marine Parade market’s potential.