Car park rates set to rise after review
(Yahoo Singapore file photo)
Public parking rates are set to rise after an islandwide review by the Housing Development Board (HDB) and Urban Redevelopment Authority (URA).
The Ministry of National Development and Ministry of Transport said in Parliament two months ago that Singapore’s carpark rates would increase in line with other global cities.
The last time prices were increased was 14 years ago, according to HDB and URA. In 2002, the increase was about 10 per cent.
URA said the reason for the current review is because costs of managing and operating car parks have increased “substantially”.
“HDB car park charges were last revised 14 years ago in 2002. While car park charges have not changed since 2002, the provisions within both old and new HDB car parks have evolved and improved over the years, to bring greater convenience to residents,” HDB told Yahoo Singapore in a statement.
“Some examples of improvements include better-designed car parks, implementing the Electronic Parking System to regulate parking demand, and adding lifts at existing multi-storey car parks where feasible, said HDB.
HDB manages about 607,000 car parking spaces, while URA manages around 24,000 car parking spaces.
Differentiated parking charges
HDB also revealed that it is looking into differentiated car park charges for visitors who use HDB parking lots. It said, “We are looking into differentiated parking charges for non-residents who utilise HDB car parks, and those who require multiple parking lots as they own more than one car.”
“Differentiated parking charges could help to better manage parking demand, with priority accorded to the parking needs of residents’ first car,” it added.
The increase will be announced after the review ends.
