Bad News for Singapore Realtors – ERP Rates Up Again

Just when you think inflation is the one doing the bad work. LTA has just announced an increase in ERP gantries along key areas and increased gantry rates.

Singapore ERP Rates Up by 7th July 2008
Photo credit: Khalid Saad

Key date: July 7th 2008
Key rate increase: $0.50 to $2.00

There’re a total of 65 gantries and almost half of the numbers’ prices will be adjusted. 5 new gantries will be built and there will be 5 new gantries along the Singapore River.

Key Most Expensive Timings to enter ERP: 6pm – 7.30pm along selected ERP Gantries/ Saturdays from 12.30pm -8pm on selected ERP Gantries. Cost $2.00

More details can be found in LTA’s One.Motoring portal here.

Well, potential overseas investors can be relieved that the Government is doing fundamentally sound in its politics and infrastructure to attract foreign funds into Singapore. That’s probably one revenue that supports the clause!

Fellow Realtors would probably need to cycle to work next time. lol.