Hold those rents
It worries me to hear that shop owners in Hong Kong - I am talking about the big property developers and owners - are intending to raise the rent of their commerical property in the light of improving retail business.
We have also heard of complaints about a sudden rise in hotel room prices.
It seems Hong Kong has returned to normal. The dollar signs in our eyes are again clouding people's vision.
Far be it for me to remind landlords of the folly and danger of 'killing the golden goose'. Memories in Hong Kong are short and when it comes to money they become even shorter.
Consumers can fight back. This was aptly demonstrated during the Sars outbreak (which incidentally threatens to come back).
Tourists from the mainland might not visit or return if they know that they are being fleeced. And they will be fleeced if shopkeepers are made to pay higher rents or they are charged room rates that balloon beyond what tour operators can afford.
Our competitiveness will be blunted even further.
How can we compete against our Southeast Asian rivals if the cost of land is too high? Why should the cost of land be so high?
Okay, we have demand and supply laws to obey. But should we not wait until demand matures before we collect the fruits? Increasing rentals now is tantamount to plucking unripe fruit.
Everyone wants to make a quick recovery - and a fast buck. However, all in good time, please. After all, there is no escape for the victims.
JAMES A. ELMS, Mid-Levels
