Affected by property price inflation, owner shop It complains about rising rents. He who was unable to extend his lease chose to sell his shop for Rp. 441 million.
Not only food, every year various necessities of life also experience an increase in prices. Including land and property prices, which are increasing day by day.
As a result, many traders are now no longer able and find it difficult to pay the rent for their shop. This is one of the factors that many culinary businesses are starting to close one by one.
Businesses that are weakening due to the pandemic coupled with exorbitant rents are making it difficult for street vendors to survive. The owner of this coffee shop even gave up and chose to sell his shop instead.
This coffee shop is sold at a price of Rp. 441 million. Photo: Must Share News
Quoting Must Share News (15/6), Singapore is a country that is currently experiencing a spike in property prices that are too high. The effect is a lot of merchants and owners shop who have to pay more rent.
While the pandemic is still in the recovery period, it has not been able to return its business profits to the same as before the pandemic. As a result, many sellers lose money as a result of paying rent that is not commensurate with their income.
A coffee shop in the Tampines area, Singapore is predicted to be being marketed. The owner of the coffee shop who currently manages it admits that he objected to the higher rental costs, so he plans to sell his shop for Rp. 441 million.
Not being the first cafe to be sold because the owner could not afford the operational costs, previously there was a cafe that was sold for Rp. 331 million in the Bukit Batok area.
This is because the owner is unable to pay the rent. Photo: Must Share News
The 23-year-old coffee shop was also announced to be closing permanently once it sold out and ownership changed hands. The reason is not only the rent that must be borne, but also the wages of the workers who can no longer be paid.
According to the reports that have been received, not only the shops were sold but many shop owners simply left their shops after the rents were raised. The increase in rental prices that were complained of was even recorded almost double from the previous one.
The rental price, which was originally set at Rp 63 million per month, can be increased to Rp 106 million per month. Not only need help from customers, owners shop He also hopes that there will be assistance from the authorities, especially the government, which conditions the rental price for simple shops.
“Maybe other people will feel the value of this building more when the price goes up in the future. Because the lease contract is still very long, the possibility to sell it at a higher price and take rental profits will be greater,” said Mak as a property consultant.
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