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In this country, cars are sold at quadruple the price, buying a car is more expensive than buying a house
If someone buys a subsidized house in Singapore, its price is 125,000 Singapore dollars. Whereas if he buys a Toyota Camry Hybrid car, he may have to pay prices ranging from 251388 to 183000 Singapore dollars. Whereas if you buy a Toyota Camry Hybrid car in America, you will have to pay 28855 US dollars, which is many times less than in Singapore.
Having your own car in Singapore has become a dream these days. Buying 1 car there is equivalent to buying 4 Toyota Camrys here. According to Reuters, the price of a car in Singapore is around $106,000.
Singapore has a 10-year "Certificate of Eligibility" (COE). The system was introduced in 1990 to control the number of vehicles, as Singapore is a small country with a relatively large population. 5.9 million people live in this country. Therefore, a quota system has been created for purchasing vehicles, the price of which has now become higher. Singapore is such a small country that it can be covered in less than 1 hour. Because of COE, this country is the most expensive country in the world, where vehicles are bought at quadruple the price.
