Singapore's roads are known for their efficiency and order, but accessing them comes at a steep price. The cost of owning a car in the city-state is significantly higher than in most other countries. A major factor is the Certificate of Entitlement (COE), a document that grants the right to own and drive a vehicle for a period of ten years. The price of a COE can reach over $84,000, depending on the vehicle category and market demand.
This high cost is a deliberate policy aimed at controlling the number of vehicles on the road and mitigating traffic congestion in the densely populated island nation. The government invests heavily in public transportation, providing a comprehensive network of buses and trains, making it a viable alternative for many residents. The high cost of car ownership, coupled with efficient public transport, encourages people to use public transit and keeps traffic manageable.
Because of the extraordinary expense, owning a car in Singapore is often seen as a status symbol. The analogy to 'wearing a Rolex' highlights the perception of car ownership as a luxury rather than a necessity. This makes driving in Singapore a unique and expensive experience, shaped by government policies and the city's unique urban environment.
Singapore's High Car Ownership Costs: A Luxury Experience
Owning a car in Singapore is incredibly expensive, with the 'Certificate of Entitlement' alone costing upwards of $84,000. This makes Singapore one of the priciest places globally to drive. These high costs are a deliberate strategy by the government to manage traffic congestion. Driving in Singapore is often compared to owning a luxury item, reflecting its exclusivity.