The CBD Parking Reality
Raffles Place and Boat Quay sit at the heart of Singapore's financial district — and parking here is notoriously expensive. Premium office towers like One Raffles Place charge $3.00 per 30 minutes during business hours, which works out to a staggering $6/hour. Marina Bay Sands nearby? $14 for the first hour, with a $32 daily cap.
But you don't have to pay those rates. With a bit of strategy — and the right carparks — you can park near Raffles Place and Boat Quay for a fraction of the cost. Here's how.
Strategy 1: Use HDB Carparks Just Outside the Core
The single best way to save on CBD parking is to avoid the private office-tower carparks entirely and use HDB multi-storey carparks a short walk away. These charge the standard central-area HDB rate of just $0.60 per 30 minutes ($1.20/hour) — roughly 80% cheaper than One Raffles Place.
Bencoolen Carpark
- Rate: $0.60 per 30 min ($1.20/hr)
- Free parking: Sundays & Public Holidays (7am–10:30pm)
- Location: Bencoolen Street, near Bencoolen MRT (Downtown Line)
- Walk to Raffles Place: ~10–12 minutes via Bras Basah Road
Prinsep Street Carpark
- Rate: $0.60 per 30 min ($1.20/hr)
- Free parking: Sundays & Public Holidays (7am–10:30pm)
- Location: Prinsep Street, near NTUC Income building
- Walk to Raffles Place: ~12 minutes
Beach Road Carpark (Arab Street)
- Rate: $0.60 per 30 min ($1.20/hr)
- Free parking: Sundays & Public Holidays (7am–10:30pm)
- Location: Arab Street / Beach Road, near Nicoll Highway
- Walk to Boat Quay: ~12–15 minutes along the riverfront
Pro tip: These HDB carparks fill up fast on weekday mornings. Arrive before 9am for the best chance at a lot. On Sundays, they're completely free — making them the cheapest option in the entire CBD.
Strategy 2: Evening & After-6pm Parking
If you're heading to Boat Quay for dinner or after-work drinks, the game changes completely. Many CBD carparks switch to a flat evening entry rate after 5pm or 6pm, which can be far cheaper than the daytime hourly rate.
Key options near the CBD:
- Parkroyal Collection Marina Bay — $2.25 per entry after 5pm (Mon–Thu). At $1.64/hr for the first 2 hours during the day, this is a great evening option near the waterfront.
- The Cathay (Handy Road, near Dhoby Ghaut) — $2.95 per entry after 6pm on weekdays; $3.10 on weekends. Also offers free first hour with a movie ticket, so catch a film and park free.
- Marina South Pier Carpark — $2.40 for the first 2 hours, then $1.20 per 30 min. Open daily 7am–10:30pm. This is an excellent budget option if you're heading to the Marina Bay waterfront or Gardens by the Bay.
Strategy 3: Promos & Rebates at Nearby Malls
Several malls within walking distance of Raffles Place and Boat Quay offer parking rebates when you spend a minimum amount. Check our Parking Promos page for the latest active offers.
Notable mentions:
- Millenia Walk — Spend $80 to receive a $3.90 parking rebate. Limited to 150 redemptions daily on weekdays, 350 on weekends. Millenia Walk is a 5-minute walk from the CBD core.
- Marina Bay Sands — SandsLifeStyle members (Prestige tier and above) enjoy discounted or complimentary parking. If you're a member, this can be far cheaper than the standard $14/hr rate.
Quick Comparison: Cheapest Parking Near Raffles Place & Boat Quay
| Carpark | Daytime Rate | Evening Rate | Free Sundays? | Best For |
|---|---|---|---|---|
| Bencoolen Carpark (HDB) | $1.20/hr | $1.20/hr | ✅ Yes | Budget weekday parking |
| Prinsep Street Carpark (HDB) | $1.20/hr | $1.20/hr | ✅ Yes | Budget weekday parking |
| Beach Road Carpark (HDB) | $1.20/hr | $1.20/hr | ✅ Yes | Walk to Boat Quay |
| Marina South Pier | $1.20/hr | $3.60/entry | ❌ No | Marina Bay waterfront |
| Parkroyal Collection Marina Bay | $1.64/hr | $2.25/entry | ❌ No | Closest to CBD core |
| The Cathay | $1.80/hr | $2.95/entry | ❌ No | Movie + free 1st hour |
The Bottom Line
Parking near Raffles Place and Boat Quay doesn't have to cost $6/hour. By using HDB carparks like Bencoolen or Prinsep Street just outside the core, you can cut your parking bill by up to 80%. For evening visits, flat entry rates at Parkroyal Collection Marina Bay or The Cathay offer predictable, affordable pricing. And don't forget to check our Promos page for rebate deals at nearby malls.
Use KiamPark to search for any destination in the CBD and instantly compare all nearby carparks by cost, walking distance, and active promotions.
Rates verified as of July 2026. Always check on-site signage for the most current rates, as carpark operators may revise pricing without notice.