Clarification by Senior Minister of State for Sustainability and the Environment

For those who have, for example, bid a very high price, such as $10,000 or $8,000, in their first tenancy term, this price will hold. But following their first tenancy term, that price will be adjusted to the assessed market rent, which is about $1,800 to $1,500, thereabout. So, that will help to make the price more sustainable for this hawker in the longer term over the next tenancy terms. [Please refer to "Impact of Escalating Hawker Stall Rentals on Food Affordability", Official Report, 9 September 2024, Vol 95, Issue 140, Oral Answers to Questions section.]

*Written statement by Dr Koh Poh Koon circulated with leave of the Speaker in accordance with Standing Order No 29(5):*

I wish to make the following factual correction to my reply to the supplementary question from Member Mr Yip Hon Weng during Question Time at the Sitting on 9 September 2024. My reply should read as follows:

For those who have, for example, bid a very high price, such as $10,000 or $8,000, in their first tenancy term, this price will hold. But following their first tenancy term, that price will be adjusted to the assessed market rent, at which the median for non-subsidised cooked food stalls is about $1,200. So, that will help to make the price more sustainable for this hawker in the longer term over the next tenancy terms.