Oct 4, 2023 at 3:29 PM Update: 2 hours ago
In Singapore, car owners have to pay around 100,000 euros for just a permit to own a car. That makes it the most expensive country in the world for those who want to buy a car.
The current price of the permit, which is valid for ten years, makes it impossible for most households to own a car. The average annual salary of a household is 84,000 euros. In addition, cars themselves are also much more expensive than in other countries. The country does have a good public transport network.
Since 1990, Singapore has had the so-called certificate of entitlementsystem (COE). This means that the government auctions a number of permits for keeping a car every month. The city state thus ensures that the number of cars remains limited.
The price of such a COE certificate varies. This is related to the traffic on the roads. For example, during the corona crisis, when fewer people were on the road, it cost 20,000 euros.
In Singapore you can drive from one side of the country to the other in less than an hour. 5.9 million people live there. This makes it one of the most densely populated countries in the world.
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EconomiesAuto’sSingapore
2023-10-04 13:29:35
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