REVIEW OF THE SALE OF SHOPS PROGRAMME

Abstract

Over the past three decades, Singapore has undergone a lot of changes. Among these were the redistribution of population by the Housing and Development Board. To date, nearly 90% of the total population are living in HDB new towns and estates all over the island. With the development of new towns, retail centres are established within the estates to cater to the daily needs of the residents. While other sectors in the economy are constantly undergoing restructuring, the small-scale retail sector is lagging behind. As such, a Retail Sector Development Plan has been drawn up to assist the large number of small-scale retailers operating in HDB estates. The Sale of Shops Programme is one of the components in this plan. The study examines how this Sale Programme has an effect on (i) the HDB retailers (ii) the retail centres (iii) the shopping environment (iv) the retailing market and (v) the property market. It tracks the first sale released in June 1992 through a field investigation of 104 out of 315 shop units. Data regarding profiles of shop tenants, their affordability, and their intentions for purchase, resale and upgrading, are presented, together with projections of likely scenarios after the sale. Indications provided during the June fieldwork were confirmed by actual results after the closure of the sale in July 1992.