And You Wonder Why The Cost Of Living Is High – HDB Cofeeshop Sold For $31 Mil

coffeeshop

Oh well. As long as the government is happy to collect the $2 million gst…..

When HDB was first formed, its objective was to provide affordable housing for all. And shops and coffeeshops were also built to well….provide affordable amenities to the resident.

Over the years, this goal was somehow forgotten and thrown out of the window. And market forces were introduced into a subsidised national housing policy.

The result, exorbitant prices that only benefitted the few.

The Yong Xing Coffee Shop in Block 155, Bukit Batok Street 11 was sold for a staggering $31 million, making it the most expensive coffee shop to be sold in an HDB estate.

The 4,521 sq ft coffee shop, which is about the size of three executive HDB flats, was sold to a new company, EH 155.

Yong Xing’s previous owner had reportedly bought the place for about $3.38 million nearly 20 years ago.

Some tenants said the rent has been doubled since the handover, to $6,500 a month.

And already some of the stallholders have increased the price of their food.

However you do have the choice of not eating at the coffeeshop if the prices of food are too expensive.

Only problem is, there are no other coffeeshops within walking distance.

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