News

There is one huge anomaly in land-scarce Singapore when it comes to costs of owning and operating private cars. And that is the cost of parking the car. Close to 80 per cent of the population live in HDB flats, and residents must pay for season parking for their cars. Visitors must also pay to park their cars in HDB estates on an hourly basis. Residents in condominiums also, in substance, pay for parking, as the cost of carparks in condominiums is factored into the purchase price of the condo units. Residents must also pay monthly management fees, which cover the maintenance and cleaning of the carparks. In addition, many condominiums charge residents who want to park a second or third car. Yet the 5 per cent of the population living in landed property pay nothing for parking their cars on public roads in private housing estates. These car owners are in fact enjoying a public good for free and hence enjoy an untaxed intrinsic benefit. The roads in landed housing estates are mostly public roads that are maintained at cost to the public. Indiscriminate parking due to the absence of designated parking spaces can make it hazardous to drive through the narrow streets in these estates. In areas near food and beverage outlets, diners enjoying free parking on these roads add to the congestion. It is time that the authorities introduced paid parking in landed housing estates. It would create a new source of recurring income to contribute to the national Budget. Paid parking in landed estates would also help to manage the problems caused by indiscriminate parking and reflect the true costs of car ownership, especially for households with multiple cars. It would be a good step towards a car-lite society.