The cost of buying a Toyota Camry Hybrid in Singapore - when combined with a certificate, registration fees and taxes - now stands at £151,000, five times more than in the UK.
The cost of obtaining a certificate of entitlement (COE) has reached all-time highs in Singapore, making car ownership unattainable for many middle-income citizens. What is a COE?: Singaporeans who wish to purchase a car must participate in the bidding process for a COE, which is part of a system introduced in 1990 to control the number of vehicles in the city-state. Owning a COE gives one the right to own a vehicle that can be used on the road for 10 years.
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