How Some Real Estate Projects in Singapore Support a ‘Car-Lite’ Environment

Singapore

SingaporePaya Lebar Quarter in Singapore has been one of several property development projects that have supported the city-state’s plan of promoting the use of more alternative transportation modes, which will advance its target of being a “car-lite” country.

Aside from promoting the use of public transit systems, the Lion City has implemented several ways to curb the use of private vehicles such as the “car-free Sunday” initiative.

Bike Paths and Other Facilities

Property experts believe that mixed-use developments with bicycle trails and end-of-trip facilities will help in realising a car-free transport infrastructure. Whether these are homes near the malls in Paya Lebar, or the office towers and residential developments.

When more people start to use bikes or opt for bikes to commute around Singapore, there will be a lesser need for car parking spaces and major roads and expressways. More land is then made available for the development of residential properties, an essential component in land scarce Singapore which faces the issue of a growing population.

Investment Sales

An expected surge in property investments in Singapore should serve as another reason why there should be more available land. In 2018, the real estate market may end on a record-high note due to the increasing investor demand.

Experts attribute this anticipated growth to the country’s short- and long-term dynamism. For instance, the economy has been steadily increasing since 2015, while long-term prospects seem bright due to business and employment growth, particularly from the technology industry.

Conclusion

Despite the high cost of vehicles in Singapore, the country still has to find ways to improve the accessibility of places to and from people’s homes. A car-free future would require much more than just raising the prices of cars.

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