That's how the free-market works. As greedy landlords try to squeeze our more rental dollars, they'll also shoot themselves in the foot. Trendy little shops that make areas like Ann Siang Hill desirable (and thus high rent) will be pushed out to other areas, and the foot traffic will slow and stop. Later, the rents will come down.earthfriendly wrote:Wow, these high rental increases are driving out the businesses.
http://www.soshiok.com/content/rentals-businesses-out
Interesting you mention that place. MY former boss from two decades ago started Rocky's Pizza - his first shop was Emerald Hill. Rocky's was wildly successful (Singapore's first 'real' pizza place). His landlord TRIPLED the rent on him - so he shut down and moved - much to the LL dismay.zzm9980 wrote:That's how the free-market works. As greedy landlords try to squeeze our more rental dollars, they'll also shoot themselves in the foot. Trendy little shops that make areas like Ann Siang Hill desirable (and thus high rent) will be pushed out to other areas, and the foot traffic will slow and stop. Later, the rents will come down.earthfriendly wrote:Wow, these high rental increases are driving out the businesses.
http://www.soshiok.com/content/rentals-businesses-out
most likely the landlord was a dummy .. and the actual landlord may not know what's happening .. the dummy has no qualms in trying to kill the golden egg laying goosePNGMK wrote:Interesting you mention that place. MY former boss from two decades ago started Rocky's Pizza - his first shop was Emerald Hill. Rocky's was wildly successful (Singapore's first 'real' pizza place). His landlord TRIPLED the rent on him - so he shut down and moved - much to the LL dismay.zzm9980 wrote:That's how the free-market works. As greedy landlords try to squeeze our more rental dollars, they'll also shoot themselves in the foot. Trendy little shops that make areas like Ann Siang Hill desirable (and thus high rent) will be pushed out to other areas, and the foot traffic will slow and stop. Later, the rents will come down.earthfriendly wrote:Wow, these high rental increases are driving out the businesses.
http://www.soshiok.com/content/rentals-businesses-out
Two words:PNGMK wrote:Interesting you mention that place. MY former boss from two decades ago started Rocky's Pizza - his first shop was Emerald Hill. Rocky's was wildly successful (Singapore's first 'real' pizza place). His landlord TRIPLED the rent on him - so he shut down and moved - much to the LL dismay.
Apparently the landlord (or investor) disagrees with you.earthfriendly wrote:I think the free market economy works well if the participants act wisely. It is easy to get caught up in the euphoria of the ups and downs of the market. Reminds me of the stock market where people chase sexy investments or try to time the market.
In the long term, this kind of yoyo dealings do not benefit anyone. Tenant turnovers are costly for the landlords and it takes time away for the day-to-day operation stuff. It takes time to build up a clientale and the bakery is on the right track (and the landlord can just sit back, relax and enjoy the steady stream of income. Now the landlord has to live with the uncertainty of the next tenant whereas the existing one has a track record). And for the tenant, she has to move out and re-establish the biz somewhere else. As for the customers, they are not served when a well-liked bakery disappear from their neighborhood. Aiming for a sustainable model would be a more efficient way. And everyone sleeps easier at night .
Not true .. it works fine or even better for the agent, who can capitalise on the fees for this and that, and many an agent is a proxy for the landlord ..earthfriendly wrote:In the long term, this kind of yoyo dealings do not benefit anyone. Tenant turnovers are costly for the landlords and it takes time away for the day-to-day operation stuff. ...
I remember the time an ex-boss of mine was trying to sell his property, about 3.8 MIL, and the agent was adamant he should hold it as she forecast price to go up to 4.5 MIL ..earthfriendly wrote:The agents did not cross my mind. Yeap, definitely, just like the stockbrokers / investment advisers working on commissions. But then, the agents do not have vested interests. Just intermediaries.
then again, a lot of money is still flowing into Singapore, from .. India ??Wd40 wrote:In other countries with high growth like India, there is also high wage growth, so businesses can pass on the costs to consumers. In Singapore, there is 0 wage growth or even negative real wage growth. So there is lots of mismatch here.
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