No change to subletting of stalls
-
Jan 12, 2011 - Straits Times
by Jessica Lim
A LONGSTANDING practice among hawkers of subletting their stalls - which push up rental rates - will stay in place.
The process, Environment and Water Resources Minister Yaacob Ibrahim explained in Parliament on Tuesday, is a private arrangement between stallholders and is based on what the market can bear.
'My ministry currently has no plans to further moderate rental rates, as market rents are reassessed at the point of every tenancy renewal,' he said.
'The rates may rise or fall, depending on the prevailing market conditions.'
He was responding to Madam Cynthia Phua (Aljunied GRC) who was concerned about the increasing rental rates due to subletting, and the effect this could have on food prices.
Subletting is when a hawker who rents a stall at the market rate set by the Government then lets it out to another, often at a higher price. The hawker then keeps the difference.
-
inflation is not the problem?
-
We are indeed facing inflation now...everything so expensive.
Even school kid expenses also expensive.
Sigh!