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SG: Parking crunch drives some to use public transport into CBD

A sizeable portion of those working in the CBD have chosen to use public transport to enter the CBD. This is due to the lack of parking spaces in Singapore's congested CBD. The parking fiasco is set to worsen, as older buildings slowly make way for newer ones. One example of such a redevelopment work would be CapitaCommercial Trust’s redevelopment of the land which Market Street Carpark sits on, into a new office development called CapitaGreen. There are plans to redevelop the Golden Shoe Carpark on Market Street as well, although none of the plans are concrete at the moment. Newer buildings have fewer parking spaces than the older ones, resulting in higher parking fees and longer waiting lists for season parking. Despite the rarity of lots, parking charges in Singapore are relatively low compared to a various cities worldwide. Singapore's median season parking fee in the CBD is about $278.20 per month, lower than the $919.41 in Hong Kong, $918.52 in Tokyo and a whopping $1,337.77 in London.Pictures used for illustration purposes only.
OneShift Editorial Team
OneShift Editorial Team
18 Oct 2013


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