Amid rising rents and growing competition, some Singapore businesses are closing down or relocating to cheaper premises. A local bakery in Siglap recently announced on social media it was moving out after its rent was increased by 57 per cent. Are commercial rent hikes spiralling out of control, or is this simply market forces at work?
Steven Chia and Otelli Edwards speak to Ethan Hsu, head of retail at Knight Frank Singapore, and Terence Yow, managing director of Enviably Me Group of Companies and chairperson of the SG Tenants United for Fairness.
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