Singaporeans need a record S$114,000 for the right to buy a car

The COE costs are surging because Singapore’s government is attempting to curb the number of vehicles on the streets and force buyers to bid for a limited number of permits. - Bloomberg

SINGAPORE (Bloomberg): The cost for the right to buy a car in Singapore has reached a record high for large automobiles and risen across the board for all categories.

In Singapore, such rights are acquired by buying certificates of entitlement, or COEs, issued by the government and they represent costs incurred before purchasing the actual vehicle.