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In some cities you have to pay extra fees for driving. In London, for example, where a driver pays the equivalent of R16.70 in traffic congestion charges per day. However, if you look at the city-state of Singapore, this amount no longer seems so high.
Because in Singapore you need a ‘Certificate of Entitlement’ (COE) – a certificate that gives you the right to buy and own a car. As “t3n” reports, this was introduced in the 1990s to prevent traffic from collapsing.
Limited number of certificates
But supply is significantly lower than demand: only 950,000 COE is available for the city-state’s six million inhabitants. This drives the price up. One option is to sell certificates, otherwise only one will be released when a car is deregistered.
Although the average annual income in Singapore is high at $120,000, you have to pay a whopping $106,000 for a car license, according to Spiegel. Moreover, there is currently persistent inflation after a long period of economic boom.
Is a car even worth it?
According to Reuters calculations, a Toyota Camry Hybrid in Singapore costs a total of $183,000, including purchase price, registration fees and taxes. For comparison, the price for the same model in the US is only about $29,000.
Such high fees for permission to own a car don’t sound particularly tempting. At the same time, the question arises whether a car makes sense at all. Singapore is so bright that you can quickly travel from one end of the island to the other. (gs)
Source: Blick
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
