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

SINGAPORE: Car buyers in Singapore will now need to fork out almost $100,000 for a certificate to own a small car, as costs in the city-state’s vehicle quota system hit an all-time high for small models on Wednesday. Singapore regularly auctions a fixed number of “certificates of ‌entitlement” allowing ‌car ownership for 10 years, which ‌helps limit ⁠the number of ⁠vehicles on the road to about 1 million. Singapore has a population of 6.1 million people and the city-state can be traversed by car in less than an hour.

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