Cost of driving in Singapore soars as ownership certificates reach nearly $100,000

The government auctions a limited number of Certificates of Entitlement (COEs) for 10-year ownership periods to control the vehicle population, making Singapore the costliest place globally to buy a car. Prices for small-car COEs—covering vehicles with engines below 1.6 litres—have quadrupled since pre-pandemic levels, driven by strong demand and reduced supply.
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