Victoria Park CNY fair stalls put up for auction for three days

Next year's Chinese New Year fair stalls at Victoria Park are put up for open auction for three consecutive days, with a fast food stall fetching the highest price of 280,000 dollars, which is 20% higher than that of last year.

Four fast food and fresh produce stalls were up for auction today, with the reserve price for the former being set at 120,000 dollars.

One stall near the Tin Hau MTR Station was sold at a high price of 280,000 dollars, some 20% higher than that of the previous year.

The successful bidder said he managed to secure a bid for a snack stall at Mong Kok's Flower Market this year, stressing that getting a spot in Victoria Park next year was within his expectations.

This as the Food and Environmental Hygiene Department noted the enthusiastic bidding process today shows the general confidence among businesses in the economy next year.

But some successful bidders believe they may suffer losses during the new year fair.

This man said it's impossible to make a profit given the low price of his snacks compounded with the fact that many locals tend to leave the city during Chinese New Year.

He added many Hongkongers don't spend as much as before.

The FEHD noted certain mainland tourists were found playing card games in the park earlier this year, and were mistaken for engaging in illegal gambling activities.

The department emphasised it will strengthen patrols in the area during the upcoming fair to prevent similar incidents.

Next year's new year fair will begin on the 31st of January and last for a total of seven days, during which Victoria Park will host 400 stalls.