Wednesday, 9th January 2013
Certificate of Entitlement (COE) for small cars hit another all-time high to close at S$92,100. The highest on record since COE was introduced in 1990. So a cheap 1.6litre Korean import should cost about $130,000 (USD105,000) to put it on the road. Singapore would be one of the most expensive place on earth to own a car, as it would cost a family about $2,000 (USD1,600) per month to have one.
Photo Credit: Flickr.
The premium for cars 1,600cc and below (or Category A) rose S$10,211 to surge past the previous high of S$81,889 recorded in the previous bidding exercise on December 2012. Car prices in Singapore is continuing to zoom up which is coupled with the rising property prices. Guess people in Singapore are feeling richer, as their assets inflating at a very rapid rate.
Passion Made Possible.