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Singapore Cars Cost a Fortune Under COE System
29 Aug
Summary
- Singapore's COE system limits car ownership, inflating prices.
- Vehicle prices are reaching unprecedented, high levels.
- Dealerships are seeing prices comparable to real estate.
Singapore's Certificate of Entitlement (COE) system continues to significantly inflate the cost of vehicle ownership. The program, implemented to manage traffic congestion by limiting the number of cars on the road, has inadvertently pushed prices to record-breaking figures. This policy means that the cost of acquiring a car, even a pre-owned one, is now often comparable to that of purchasing real estate.
Dealers are observing these extraordinary price increases firsthand. The COE system's impact is creating a highly exclusive market, where only the affluent can afford to own a vehicle. This situation highlights the tension between managing urban mobility and the desire for personal transportation accessibility in the wealthy city-state.
