The Sail condo rents out parking lots for $480 a month

Singapore's tallest residential skys****er, The Sail @ Marina Bay, has a solution to the Central Business District's (CBD) parking woes.

Located at Marina Bay, the luxury property with more than 1,000 residential units also offers parking spaces to non residents.

These lots, which cost about $480 a month, are coveted, especially by those working at the Marina Bay Financial Centre (MBFC) nearby.

The management of The Sail said there are 709 parking spaces, including five handicap lots, but declined to provide a breakdown of resident and non resident lots.

- See more at: http://business.asiaone.com/property/new...-480-month

Amazing Singapore!! Is this the most expensive season parking in Singapore? How much stocks i have to buy to be able to receive enough dividend to cover this?

Likely rented to some high paid people working around there.

What is 480 dollars to someone earning 10 - 20 K or a month? simple change for the person.

wonder who are the ones renting out their carpark spaces?

Not sure about marina area but that's the usual CBD(Raffles plc) season parking rate.
Even ard $500 and above, chances you may not get a season lot within the same building you are working at.
Mostly reserved for senior management.

Parking for an entire day(say golden shoe car park) non season, can burn around $50.
To be fair, parking in most cities is expensive. Singapore's CBD can be considered one of the
cheaper places to park. (without factoring ERP).

What is ridiculous are the car prices, not the parking fees.
And we got no one else to blame, it's us who are willing to pay for a $130K toyota corolla.

Side track a bit.
On this topic, get ready for higher inflation numbers for 2014.
While housing/car prices are not likely to top the already ridiculous levels,
cost of goods/services are going up.

RMB is strengthening against the SGD.
Most goods are made in china.
Labor cost(with higher levies/etc) will go up.
Factor in increment for the workers + higher cost of business space.

Hate to say it but 2014 will see our money become smaller due to higher inflation.
Look at Senkang, Kopitiam, square, small hawker stall rental $5K.
How much does the hawker need to charge just to cover the rental?

(04-01-2014, 03:29 AM)Big Toe Wrote: Side track a bit.
On this topic, get ready for higher inflation numbers for 2014.
While housing/car prices are not likely to top the already ridiculous levels,
cost of goods/services are going up.

RMB is strengthening against the SGD.
Most goods are made in china.
Labor cost(with higher levies/etc) will go up.
Factor in increment for the workers + higher cost of business space.

Hate to say it but 2014 will see our money become smaller due to higher inflation.
Look at Senkang, Kopitiam, square, small hawker stall rental $5K.
How much does the hawker need to charge just to cover the rental?

blame the GOV for using P&L as main objective for public goods. They are the one causing the asset-inflation driven CPI inflation. Trying to mitigate CPI inflation with SGD strengthening can only go so far without killing tourism and businesses.

Blame is blame...
Any suggestion so that our GOV can lower the rent and make these group of hawker pay lower rent?


A Life not Reflected is a Life not Worth Living.

This is a tricky situation, fighting inflation with currency. Its the easiest way but in the long run, it increases the cost. And unless everyone's income rises in tandem, the cost increase with erode any the salary increase, and people will feel the pinch. Singapore depends on many imports, and rising price like in China and other South Asia countries will increase the prices of goods here. Plus the high rental cost of even gov shops and factories, there is no where to run away from inflation. The 2.5% in the cpf interest may well mean by the time one retire, the money has strink so much and retirement is no more carefree. I think gov is doing wat it can but I wish the cpf interest can also increase.