Be prepared to pay higher parking charges in the Central
Business District (CBD).
A simple case of demand and supply has pushed up rates in
multi-storey car parks.
Parking at the Market Street car park for nearly two hours will
land one with a bill of S$8.
This is based on the new rate of S$2 per half hour or part thereof
which took effect on January 1 this year.
This is effectively 11 percent higher than the old rate.
In the view of some, this is quite a hefty amount to pay for city
parking.
Public car parks such as the Market Street and Golden Shoe car
parks were recently refurbished with new amenities and a swankier
look.
CapitaCommercial Trust, which runs the two car parks, said the
charges were raised because of the high demand for parking space in
the Raffles Place area.
Some car park users also feel that such a trend is inevitable,
given the limited space available in the CBD area.
But if one must drive into the CBD, it is useful to note that SGX
Centre, Great Eastern Centre and Asia Chambers, among others,
currently offer lower parking rates.