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Thread: Latest squeeze in parking space: Condos

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    Default Latest squeeze in parking space: Condos

    http://www.straitstimes.com/ST%2BFor...ry_257485.html

    July 14, 2008

    Latest squeeze in parking space: Condos


    ADDING to the stress of vehicle ownership in Singapore with ever-increasing numbers of ERP gantries, rising fuel costs and traffic congestion, vehicle owners also find it increasingly difficult to find parking lots in shopping centres and public carparks during peak times - and now even at their home, especially if they have more than one vehicle.

    While HDB estates can accommodate increasing demand for carpark lots by building multistorey carparks and designated lots for residents, private condominiums are constrained to cater to such demand by residents.

    The lack of carpark lots is more severe in new condominiums. Carpark lots do not yield profits for developers. Developers should disclose the number of carpark lots in their marketing brochures as they do with other facilities.

    For instance, the recent weekend launch by City Developments of the 77-unit Shelford residence condominium in Bukit Timah revealed, only after inquiry, that 81 lots (including two handicapped ones) are available. Each unit is technically 'allowed' to have one car and visitors with cars are not welcome. With most units costing between $2 million and $4 million, it is not unreasonable to assume that buyers who can afford them may own at least one vehicle, especially if their units are larger (with more people living there), such as the penthouses.

    One may find many similar situations to varying degrees in larger and higher-profile launches such as The Sail, River Edge, St Regis and Dakota.

    Buyers of new condominiums, especially those who buy multi-million-dollar larger units, beware. One may be 'allowed' to have only one car, and family and friends may have to take public transport when visiting.

    Ong Tee Jin
    Last edited by mr funny; 14-07-08 at 18:22.

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