Near the MRT, thus no car parks are needed?

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

Have you heard of this statement from any property sales people thus far? “This project is so near the MRT that you can walk to the station, why do you need a car park?” Do you agree or disagree with this statement? I am personally of the opinion that the government needs to do more if we intend for more people to take public transport. Two real examples? Let’s learn from Singapore? High parking rates (compared to Malaysia) and their Electronic Road Pricing (ERP) charges which helps deter many drivers from thinking about driving to the office in the CBD… 😛 Else, people will continue to buy cars and they will continue to drive them to work and the traffic jams will just continue on and on. Anyway, coming back to the statement whereby no car parks are needed when the development is next to or nearby the MRT station.

#1 – It’s a personal choice. I have friends who told me that they have ZERO intention to buy a car. The car will be depreciating in value everyday anyway. For these friends, they are already firmly plugged into the public transport mindset and has been taking it for years without fail and even if you give them car keys, they may not know how to drive. Haha. Just exaggerating but you get the idea. Thus, for these people, yeah, the advice from the property sales people are very accurate.

#2 – Families in the near future. Let’s understand that bringing young kids to nursery via the public transport is not such an awesome experience. Not about the train, definitely. It’s more of ensuring the kids are safe at all times, there’s so many people, the trains are moving, the kids may be running around etc… Plus the mother or father will have to bring 4 bags. Two school bags and two bags to store clothes and other stuffs as the kids will be sleeping in the nursery and only coming home at 5pm everyday.

#3 – Ideal future is still extremely far away. Picture Malaysians, 90 percent of them all on public transports everyday in the Klang Valley. Yea, we will have much cleaner air, no traffic jams and everyone will have more money to spend on so many other stuffs instead of a RM100,000 car for example. Okay, now wake up because this will always be a dream unless we have government intervention. A strict intervention which may make the people angry and you know what happens later during elections… With a natural growth in people taking public transport, it will take a very long time yet.

So, in conclusion, the future of everyone taking the public transport is still going to be far away. Thus, cars are needed and thus, car parks are needed. In Hong Kong’s CBD, the car parks themselves are considered an investment item. Some time back, a reader of kopiandproperty.com, Jason commented the following: :”My family just sold our parking slot for $1.4 million hkd last month (originally bought for $200k back in 2003) and guess what? I just checked the transaction records online and realised a parking slot in our neighbourhood has been sold for $1.6 million recently. Crazy right? I can’t wait for the bubble to burst :P” Well, I just checked, the car parks are still very expensive. US$760,000 for one… (read here) Happy understanding.

Please LIKE kopiandproperty.com FB page or Sign Up for free to get daily updates about the property market.

Next suggested article: Making sure public transport remains cheap is not easy…

kopiandproperty.com

kopiandproperty.com

kopiandproperty.com is everything about property related writings and news. Enjoy reading with a latte.

Leave a Replay

LIKE us for property news update, FREE.

Property investment news everyday? Subscribe for free!

An article a day, keeps updated all the way.

Join 1,144 other subscribers

Property investment news everyday?

An article a day, keeps updated all the way. Subscribe for free!

%d bloggers like this: