Low Rent at Lunar New Year Fair Helps Small Businesses

Stall owners at Hong Kong’s largest fair in Victoria Park are paying lower rent than last year.

Successful bids for wet stalls ranged from HK$6,530 to HK$75,000, with the aggregate bidding price declining nearly 30% compared to last year, while rent for fast food stalls was reduced by around 20%, according to the government data.

Cheung Hon-fung, 22, a university student, partnered with two friends to sell drinking board games and wooden decorations which they designed.

“The rent was fortunately cheaper than last year which was good news to us. But I don’t think there will be a great growth in sales, due to the bad weather and people going to mainland China to spend their holidays,” he said.

Adrian Choy, 22, is another business owner at Victoria Park.

“I ran a store seven years ago selling New Year’s favourites, but I didn't keep it going because of the high rent. This year's rent in the market is HK$8,000 cheaper than what it was then,” he said.

To usher in the Year of Snake, many dry stalls sell snake themed items such as cushions and accessories, attracting locals and foreign visitors to stop in the tracks.

“It was a collective effort to come up with different products. Some came up with neck cushions and some promoted Fai Chun with snake puns,” Choy said.

Visitors at the fair include locals and people from overseas.

Sherry Stephany, 58, a former Hong Kong resident, came back from New Jersey in the US during the holiday to visit family members.

“We find the fair very festive and hope to buy some souvenirs and clothings with snake patterns,” she said.

The Victoria Park fair opens on Jan.23 and lasts for six days with free admission. On Jan.29, it will remain open to the public until 7am.