As Singapore moves towards becoming a ‘car-lite society’, the Land Transport Authority has proposed an amendment to the Parking Places Act (PPA) to reduce the number of car parks. This may affect the way Singaporeans live, work and play.
Private developments in future “car-lite precincts” may also have less available parking, but more connectivity to public transport and alternative travel options such as walking and cycling. Some of these newer developments may come under pressure, in terms of rental and/or end value, as buyers or tenants of the new building that has fewer carpark lots may be attracted to the older developments nearby.
On the other end of the spectrum, developers of high-end luxury condominiums in the prime district may not want to go ‘car-lite’ because any potential buyers who can fork out more than S$4 to S$6 million for a condominium unit, could well be able to afford more than one car.
Watch the Channel NewsAsia Singapore Tonight interview broadcasted on 30 April 2018 here (14:23 – 18:32).