free market buddy - charge what the market will bearAngMoG wrote:Saw that the other day... crazy stuff.
Methinks they should implement some regulation here of a max 10% increase in rent per year, no matter if residential, commercial, new tenant or renewing. That would hopefully weed out the worst offenders.
Except it's not really a free market. It's a government controlled land market.PNGMK wrote:free market buddy - charge what the market will bearAngMoG wrote:Saw that the other day... crazy stuff.
Methinks they should implement some regulation here of a max 10% increase in rent per year, no matter if residential, commercial, new tenant or renewing. That would hopefully weed out the worst offenders.
Well most countries are actually - it just they are a lot bigger so there is 'slack' in the system and land releases are not so drastic.Strong Eagle wrote:Except it's not really a free market. It's a government controlled land market.PNGMK wrote:free market buddy - charge what the market will bearAngMoG wrote:Saw that the other day... crazy stuff.
Methinks they should implement some regulation here of a max 10% increase in rent per year, no matter if residential, commercial, new tenant or renewing. That would hopefully weed out the worst offenders.
I've seen it a bit with successful businesses here though. Someone starts a business, it just gets going well and making money and the Landlord decides "I'll have a bit of that" and whacks on a great big increase which kills the business. Rocky's Pizza is one example.the lynx wrote:Probably just another way to force a tenant to leave (or to make way for a new favoured tenant). Seriously it is NOT a good business strategy to go around raising rents by 300%.
Yup, that's free market for you. Would you still be in favor of it, as such a business owner?PNGMK wrote:I've seen it a bit with successful businesses here though. Someone starts a business, it just gets going well and making money and the Landlord decides "I'll have a bit of that" and whacks on a great big increase which kills the business. Rocky's Pizza is one example.the lynx wrote:Probably just another way to force a tenant to leave (or to make way for a new favoured tenant). Seriously it is NOT a good business strategy to go around raising rents by 300%.
We should ask JR8, he is a landlord after all.
It's called 'Dutch Disease' - google it.Wd40 wrote:The free market thing is interesting. What it means is businesses that are of low margin will just disappear, if they cannot pass on the cost to the customer. Already lots of kinds of industries are unviable in Singapore and stuff needs to be imported. As rents increase, we will only have the highest of margins business survive in Singapore, like the RollsRoyce manufacturing.
But restaurants are something that cannot dissappear from Singapore totally. I think in future you will have restaurants cost here in line with the UK for example and people will start cooking at home, after all.
I was in UK a couple of weeks ago and I found that the Pub food prices in UK were pretty much the same as they are here in Singapore. In fact I think some of the stuff in Singapore is considerably cheaper here than in UK.Wd40 wrote:The free market thing is interesting. What it means is businesses that are of low margin will just disappear, if they cannot pass on the cost to the customer. Already lots of kinds of industries are unviable in Singapore and stuff needs to be imported. As rents increase, we will only have the highest of margins business survive in Singapore, like the RollsRoyce manufacturing.
But restaurants are something that cannot dissappear from Singapore totally. I think in future you will have restaurants cost here in line with the UK for example and people will start cooking at home, after all.
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