97% of coffee shops rented out by HDB did not see increase in rents in last 5 years: Sim Ann

97% of coffee shops rented out by HDB did not see increase in rents in last 5 years: Sim Ann

Ms. Yeo mentioned rising rental prices of up to 30 % in a secondary issue. What factors are taken into account when choosing which java shops to sell or rent, she enquired. &nbsp,

While HDB started selling espresso stores in 1988, Ms. Sim retorted that it stopped doing so in 1998.

The Price- Quality Method sweet, which is based on a variety of factors other than rent, has been used to lease all fresh HDB coffeeshops since 2018. These include factors related to value. &nbsp,

According to Ms. Sim, HDB, as a landlord, contributes to maintaining steady rents and promoting the provision of cheap meals.

She continued by saying that HDB is aware that those in the industry must run espresso stores. ” We are even aware that HDB does not immediately engage in the provision of fried foods. Therefore, we must make room for both stallholders and coffee shop owners to follow business rules and conduct business.

Because the relationships with the providers in the two situations are very different, I believe Ms. Yeo do understand that our technique to sold, privately owned espresso shops would have to be different from the ones that HDB owns and therefore revenues out.

Assoc Prof. Jamus Lim ( WP-Sengkang ) enquired as to whether there were any plans to repurchase privately owned coffee shops so that they would all fall under HDB. He added that some private operators in his constituency had passed on rental increases to customers in the form of higher food prices. &nbsp,

Ms. Sim responded,” I believe the government had carefully consider that, and it’s not a decision we would consider lightly.”

” I believe it’s crucial that we are clear about where the market is free to operate and where government intervention is necessary in terms of how ( the ) government generally deals with the private sector.”

She asserted that ensuring “wide presence” of food choices throughout Singapore would be the best defense against rising food prices.