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If you want to become a street vendor, you may want to think twice before setting up a stall in Ximending or Shilin.
Rents in these shopping hotspots are now sky-high, with spaces that can barely fit a food cart going for up to NT$80,000 a month. Analysts say the high rents won''t be coming down anytime soon.
Objects are piled up front, and the entrance is blocked by an electrical transformer. But this crowded space, even at a rent of NT$80,000 a month, is highly sought after in Ximending.
Small spots are also worth a fortune in Taipei’s Shilin Night Market. Take the entrance at Yangming Movie Theater, where a space as big as a food cart costs NT$45,000 a month.
These properties are coveted despite their high prices. That’s because the cost of running a food stall is still much cheaper than running a traditional shop front. To maximize their profits, landlords are well-practiced at divvying up bigger spaces into smaller ones.
Chen Tai-yuanReal estate agent: Small spaces are more efficient per ping. Business income per ping is higher. Another reason these spaces are in demand is that they host “three markets a day.” There is probably already a crowd before noon, so vendors can start doing business early.These days, Taipei’s most popular shopping areas aren’t just renting out traditional shop fronts, as even nooks and crannies are going for beaucoup bucks.
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Source: Formosa English News : https://www.youtube.com/watch?v=9AvH-uQhoSs