Parking crunch at new condos

Parking crunch at new condos

The growth of public transport and a chronic lack of space are prompting developers to cut back on the number of carpark spaces in private condominiums.

Many new condos now typically provide one space per dwelling unit - meeting the minimum requirement stipulated by the Land Transport Authority - while those for visitors are being chopped altogether. "Owners have the flexibility to provide more parking spaces, over and above this requirement to cater to their development's needs," said its spokesman. 

But certain projects in the city and Marina Bay and those close to MRT stations can have fewer carpark spaces than the prescribed minimum, and providing visitor spaces is not mandatory.

Experts say the high cost of land has led to developers looking to maximise their gross floor area on homes rather than on parking.

Consultants believe home buyers may not realise the parking crunch until they move in.

ERA Realty Network senior marketing manager Andrew Phee said owner-occupiers are often the ones concerned about parking while investment buyers are less worried, "as they feel most tenants do not drive, have one car at most or rely on public transport instead".

Condos like Kembangan Suites and Attitude @ Kim Yam have mechanised carparks - drivers drop off their cars to be parked under a computerised system - but Mr Phee said many buyers see this as inconvenient and often opt for projects with normal parking.

Source: The Straits Times – 23 August 2012