Photo of carpark from Wikipedia

In what the government’s claim to “transform into a car-lite” society, all public car park rates will increase by 20%. Here are the increase:

Parking Description Old Rate New Rate effective Dec 1
Regular short-term $0.50/30mins $0.60/30mins
Restricted Zone/Designated Area $1/hr $1.20/hr
Heavy Vehicle short-term $1/hr $1.20/hr
Heavy Vehicle Restricted Zone/Designated Area $1/hr $1.20/hr
Season Parking for HDB carparks – Surface $65/mth $80/mth
Season Parking for HDB carparks – Sheltered $90/mth $110/mth

For more details of other increase, please view here.

The Urban Redevelopment Authority (URA) gave an excuse saying that the last revision was done 14 years ago, with the following statement:

“The last island-wide revision of car parking charges by HDB and URA was done 14 years ago in 2002. Over this period, the costs of building, operating and managing car parks have increased due to general inflation, as well as construction, manpower and other related maintenance costs. Car park charges have not kept pace with these cost increases. Therefore revisions are needed to ensure proper cost recovery. ”

The cost of living in Singapore is currently ranked 4th in the world by Mercer. With the inflation in parking charges, the transport pricing in the consumer price index is likely to spike and also create a spillover effect on food prices. Taxi drivers and those in the logistic business will be the hardest hit by this increase. This carpark charges increase is seen as a rent-seeking behaviour from the Singapore government as it creates no corresponding increase in value.