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Channel NewsAsia – Fewer Parking Spaces? Possible Changes to The Parking Places Act (PPA)

29 April 2018

As Singapore moves towards becoming a ‘car-lite society’, the Land Transport Authority has proposed an amendment to The Parking Places Act (PPA), where parking provisions in private buildings will become fewer.

ZACD Executive Director and Chief Investment Officer, Nicholas Mak said, “This will put newer developments under pressure, in terms of rental and/or end value. 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).