Whether you own a car or not, we’re willing to wager that you’ve probably lamented the price of cars as well as the crazy road tax that’s imposed on drivers in Singapore.
Not to forget the expenses of actually driving a car, like parking fees.
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But how do parking fees in Singapore stack up compared to those in other developed cities?
From December, Housing Development Board (HDB) and Urban Redevelopment Authority (URA) parking will cost $0.60 or $1.20 per half-hour, depending on the area you’re parking at. That means you pay between 1.20 SGD to 2.40 SGD per hour.
When it comes to private parking, you usually-though not always—end up paying more.
According to data found on One Motoring, hourly parking in the Orchard area is around $2 to $4 per hour. Per-entry parking is seldom more than $5.
Parking close to Central in Hong Kong costs about 21 HKD (3.67 SGD) to 34 HKD (5.95 SGD) per hour, and up to 142 HKD (7.34 SGD) per hour one weekends. You pay about 110 HKD (19.24 SGD) to 170 HKD (29.73 SGD) for half a day.
When it comes to owning your own parking space, it’s a whole other story, with Hong Kong parking spaces commanding some of the highest prices in the world.
Safe to say that Hong Kong has it even worse than us.
Singaporeans who migrate to Australia are often bowled over by the low price of cars.
And parking isn’t really expensive, as long as you stay out of the CBD.
Parking meters in the CBD charge 5.50 AUD (5.51 SGD) per hour. For private parking, prices can be really mind boggling. You can easily end up paying over 20 AUD (20.33 SGD) an hour. If you park for several hours this goes down to a lower but still high price of 17 (17.28 SGD) to 19 AUD (19.31 SGD) an hour.
Outside the CBD area, you pay about 1.70 AUD (1.73 SGD) to 3.20 AUD (3.25 SGD), depending on how long you’re there. All day parking is only 0.80 AUD (0.81 SGD) per hour.
This applies to street parking very close to but not exactly in the CBD, like nearby Lygon Street or next to Queen Victoria Market. So most people just park on the outskirts of the CBD and then walk in.
The Big Apple is notorious for being expensive, and parking charges there are some of the highest in the world.
In downtown Manhattan, short-term parking of one to two hours tends to be very expensive, at anywhere between 20 USD (27.13 SGD) to 40 USD (54.27 SGD) (!) an hour.
The longer you park, the cheaper the hourly rate gets, with most carparks offering daily parking at about 50 USD (67.86 SGD).
London is yet another city notorious for its high prices.
Parking in central London generally costs about 4 GBP (7.16 SGD) to 6.50 GBP (11.65 SGD) per hour, with 24 hour parking costing about 30 GBP (53.70 SGD) to 40 GBP (71.61 SGD).
But then again, nobody really drives in the city centre, since there are zillions of Tube stations, all within what seems like 30 seconds’ walk of each other.
You’re more likely to cruise around Bangkok in a tuktuk or on a scooter, but that’s beside the point.
Virtually everything in Bangkok is cheaper than its equivalent in Singapore, and parking is no different. Parking tends to range from 13 THB (0.50 SGD) to 40 THB (1.55 SGD) per hour.
Private or metered parking in the downtown area ranges from about 2 USD (2.72 SGD) to 6 USD (8.15 SGD) per hour, although some meters charge as little as 0.25 USD (0.34 SGD) per hour at certain times of day (no prizes for guessing what sorts of hours those are).
If you’re looking for somewhere to park for an entire day, you’re looking at paying about 20 USD (27.15 SGD) to 30 USD (40.73 SGD).
Parking within the city centre is also notoriously expensive.
You’re looking at paying about 5 euro (7.46 SGD) to 8 euro (11.94 SGD) an hour, while 24 hour parking will cost about 35 (52.23 SGD) to 50 euro (74.63 SGD).
Driving and all the related costs may amount to a fair number in Singapore, but hey, it could be worse.
Plus, there are tons of ways to stretch your dollar in Singapore if you’re smart about it, whether you’re buying groceries or luxury goods.
By Joanne Poh, MoneySmart, 3 August 2016
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