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<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Nowhere in the world can the economy boom until virtual ghost towns sprout up everywhere!
Losing cult hip status <!--10 min-->
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Rising rentals and a slowdown in customer traffic have resulted in the moving out of several shop tenants in recent months. -- PHOTO: NP
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IT WAS the epicentre of cool three years ago.
But now, Haji Lane in Kampong Glam has turned into a virtual ghost-town at night after several shop tenants moved out in recent months.
Rising rentals and a slowdown in customer traffic are to blame, say owners of its string of more than 40 fashion and lifestyle boutiques, secondhand shops and cafes.
Out of 16 shop owners Life! spoke to, 10 were affected by rental hikes. Many say their rentals have doubled from about two years ago.
Ms Eileen Fam, 32, owner of boutique Lola, relocated to Kandahar Street in May after her landlord doubled the rental of her 750 sq ft shop to $7,000 a month. 'It was too much. Landlords don't take into account that we get more people who browse than buy,' she says.
She is now paying about $5,000 for a 1,000 sq ft shop at Kandahar Street where she is enjoying better sales.
Haji Lane, once a sleepy back alley with textile shops and warehouses, received a severe injection of hip in 2005 when brands like Commes des Garcons set up shop there. Read the full story in Saturday's edition of The Straits Times' Life!
Losing cult hip status <!--10 min-->
</TR><!-- headline one : end --><!-- show image if available --><TR vAlign=bottom><TD width=330>
</TD><TD width=10>
Rising rentals and a slowdown in customer traffic have resulted in the moving out of several shop tenants in recent months. -- PHOTO: NP
</TD></TR></TBODY></TABLE>
<!-- START OF : div id="storytext"-->
IT WAS the epicentre of cool three years ago.
But now, Haji Lane in Kampong Glam has turned into a virtual ghost-town at night after several shop tenants moved out in recent months.
Rising rentals and a slowdown in customer traffic are to blame, say owners of its string of more than 40 fashion and lifestyle boutiques, secondhand shops and cafes.
Out of 16 shop owners Life! spoke to, 10 were affected by rental hikes. Many say their rentals have doubled from about two years ago.
Ms Eileen Fam, 32, owner of boutique Lola, relocated to Kandahar Street in May after her landlord doubled the rental of her 750 sq ft shop to $7,000 a month. 'It was too much. Landlords don't take into account that we get more people who browse than buy,' she says.
She is now paying about $5,000 for a 1,000 sq ft shop at Kandahar Street where she is enjoying better sales.
Haji Lane, once a sleepy back alley with textile shops and warehouses, received a severe injection of hip in 2005 when brands like Commes des Garcons set up shop there. Read the full story in Saturday's edition of The Straits Times' Life!
