Actually, owning a car here in most circumstances is considered a privilege. In fact, most people don't drive because the public transport networks (bus and the metro/MRT) are very extensive and are still being expanded. Perks of living in a country with pretty awesome public transport
Yeah, that's true. Public transport is really convenient here and it's definitely cheaper than having to buy and maintain a car. Plus, it's much more environmentally friendly!
@@priscilladc92I've vacationed in Singapore but never took the metro. The people interviewed in this video say it can take 1.5 hrs to travel across the city. That doesn't sound very convenient for such a small city. I am actually quite surprised.
@xiphoid2011 Singapore isn't a "small city", its literally as big as New York City. And if you take a look at the metro map, there's many stations too. Also, the 1.5h you cited from the video is just an estimate
I know a friend who complained constantly about high price of BTO flat. Yet he owns a brand new car costing him more than $200K which allow him to drive for only 10 yrs.
I'm not a Singaporean but if I'm not mistaken, the COE only valid up to certain years and similarly you can only own a car for certain years before they must be scrapped, so not only purchasing a car is expensive, owning a car as well suppose you want to own them for your lifetime. The reasoning is logical, Singapore is a small country so if everyone can afford a car, it will defeat the purpose of driving the car itself when traffic jam added minutes if not hours to the travel time.
Seems logical in theory, but since it's a bidding system, it's the wealthy against the super wealthy. The average person can't even be in the circle even if they really need the use of a car. Perhaps there are exceptions for those in certain low income groups that I am not aware about.
ONLY In SG where a Single Pdt can be Taxed 8 TIMES in 8 Different WAYS. 4G is ADDICTED TO💰💰💰 This Multi Level Taxation on Vehicles in SG that makes it THE MOST EXPENSIVE Country for Car Ownership. Vehicles are Slapped with 8 Different Taxations on A Single Product - Import Tax - ARF - COE - Registration - Road Tax - ERP - Petrol Tax - GST It is A Well Devised System to Squeeze the Citizens in Multi Faceted Taxation System. 61% Voted to Be SCREWED
Bmw n merc are not luxury cars in canada, at most they are enthusiast cars with better performance or better comfort and they are not expensive. Bugatti are the ones that shows you are an elite there.
For those that do not know or don’t live here, due Singapore being a really small country, the government implemented a law way back in the day, that only a maximum of 1 million vehicles are allowed on our roads at all times thus the high prices of cars here in Singapore. Anyway, because Singapore is pretty small so cars are not a necessity in this country plus our public transport system is pretty good already. The only reason why you would be willing to spend on a car here is if you have a family or if you just wanna flex your financial muscles.
Tbh our public transport is decent but not that great. Its nothing like Seoul or Tokyo, where stations are 5 - max 10 mins walking distance apart, and supermarkets/affordable convenience stores/pharmacies are found everywhere. In those cities, they dont have COE, but very few people who live in the cities own cars as they can easily settle their day-to-day needs without one. Here, most people need to frequent a mall to settle weekly groceries/basic needs. Unless u live right above or opposite the mall, people who are older or have medical conditions or families usually struggle to complete these activities using pure public transport. A car is a necessity in such cases. Unfortunately what should be a necessity item as it is in most countries is now just made purely a luxury/flex item by the government.
@@kastrokat6277 Yup I definitely agree in terms of Public Transport Accessibility, we cannot compare to Seoul or Tokyo although we might probably catch up with the opening of more MRT stations in the new few years. And yes I can also agree if you are living with old folks or people with disabilities, having a car would be most helpful.
Yeah, that's true. I've heard about this law before. It's really interesting how it affects the car prices here. It's definitely something to consider when deciding whether or not to buy a car in Singapore.
@@kastrokat6277In terms of distance between stations, maybe SG is not comparable to Seoul but definitely comparable to Tokyo. I picked out random pairs of stations for each and the distance range for Tokyo is 2.2km to 6km and the distance range for SG train stations is 1.3km to 4.4km. Of course, they aren't gonna be the same throughout all the stations but you get the general idea that the distances aren't too far apart. Like many Singaporeans, I've walked from station to station before and as long as you're near a hdb estate, you'll 100% see a supermarket (and coffeeshops) or 2 along the way. In my 30+ years of living in SG, I've never once needed a car for groceries (I started buying groceries as a kid of 9 - 10 years old)
You need a car, unless you were not married and had no children. Don't be brainwashed by the government. You need a car. It is not just a luxury. Under the hot sun of Singapore, you would faint if you try to walk 15 minutes to get to the nearest bus stop or MRT station. Not feasible for old folks or young kids.
I feel that if you do not have the cash to buy the car (and have to take a loan) then you cannot afford to buy that car... save up more before purchasing the car. Drivers who own cars should not have to worry about the costs involved in maintaining the car, just pay and drive.
Only the top 5% can afford to buy a >500k car with cash that cost 1.5 times the price of a bto. Majority will need to take loans, if banks stop loaning coe prices will drop like a rock😂
@@maramba32 depends. If always packed and break down like how it used to a lot few years (5-10 years) back, I rather have the option of having my own transport.
Cars are symbol of wealth here in my country, but foolishly many prioritise buying a car than a home and ended up where they have a car but didn't have any garage to put them in
It is not just buying a car. A certificate of intitlement (COE) is needed. I believe it is 120,000 Singapore dollars now. So the certificate may cost more than the car some of these people have just bought.
ONLY In SG where a Single Pdt can be Taxed 8 TIMES in 8 Different WAYS. 4G is ADDICTED TO💰💰💰 This Multi Level Taxation on Vehicles in SG that makes it THE MOST EXPENSIVE Country for Car Ownership. Vehicles are Slapped with 8 Different Taxations on A Single Product - Import Tax - ARF - COE - Registration - Road Tax - ERP - Petrol Tax - GST It is A Well Devised System to Squeeze the Citizens in Multi Faceted Taxation System. 61% Voted to Be SCREWED
The elderly indian made the best point - although Singapore is a small nation, the COE is certainly not the best policy to restrict ownerships of cars. Multiple wealthy families owns dozens of cars whereby each family member owns 1 - which has made this policy a priviledge for the rich rather than a policy to serve the people. Just like the CDC voucher being restricted to household, cars should be restricted to household as well, meaning any additional car purchase should be tax more per household. Additionally, there are certainly some family that needs the aid or convenient of a car more than others - especially so for people with elderly parents, handicapped family members or young children. Isnt the SG government encouraging youth to start a family? Who is going to ferry the young kids to and from whereever they need to be? Are ppl suppose to carry their 2 mth old newborn baby from the hospital via mrt to home? There are certainly many tweaks in this policy that the Singapore government can do better but chose not to do so
I don’t know where you’re getting your numbers from but the base price of a Toyota Prius in the US is about $27,000 USD BUT I’ve never seen it sell at that price. If you go to a dealer, you won’t find one at that price. Average price is about $45,000. I shopped for one last year.
I got a 2019 Hyundai Avante last year for $78k SGD for family and work, definitely not that cheap as compared to other places. But in the US I guess you can call cars a necessity.
Not many realizd the importance of car, when you start aging you will know how much this helps for the elderly to move around instead of taking public transport.
You have to be impressed with us millenials. Im still at 5:16 but Im proud that most or relatively some of us millenials here in asia now know what "NEEDS" and "WANTS" are and still have a healthy discussion with someone about it 🎉 Im proud of us
Once again, I salute the Singaporeans commenting here and explaining to the audience why prices are high and rightly so. Good to see the unity everyone is displaying here. Cheers. The economic costs of traffic congestion is really the end goal here. If everyone unites and plays their part, which most are, we then have our wonderful economy that is part of our national defence =p
Sure bo? Then why when come to msia side, keep say envy we can own more than 1 car 1 bike at home? Middle class Sg is trapped in this debt till cpf withdrawal time. Maybe is okay u can con those "farang" or "angmo" viewers siaaa...almost all complain about outdated COE system and getting bad to worst public transport system...don't take comparison of the public transport system if u live in central or CBD area compared with mid class workers that work at the fringe of Sg yaaa..everytime when talking to their neighbour countrymen, keep envy we can own multiple cars and bike parking at home...
@@ae101rulez so long as the majority see the big picture and support it, our policies help the economy. Sure there will be some who may support in the short run game but ultimately, the long run game speaks the loudest. Successful countries tend to do this. Imagine a country that focuses mostly on the short run game, tough.
I live in Canada. We own a Toyota Camry and two BMWs. The Camry cost $27,000, one BMW (X3) cost $62,000. Both were purchased in 2013. The last car, a BMW 530i, which we bought in 2023, cost $91,000. These three cars would cost more than $1 million if we lived in Singapore. Besides, we would be forced to scrap the BMW X3 and Camry, as both are 11 years old. We are thankful that we left Singapore in 2013 and came back to Canada. It is a stretch to say cars are not needed. Of course, if you are willing to suffer immensely you can in theory survive in Singapore without a car. But you can survive without electricity or cell phones in Singapore too in theory. But no one is arguing that electricity and cell phones are luxuries, even in Singapore.
Honestly i feel that since car ownership has a limitation in SG, COE shouldnt simply be open market and common price for all. I think the pricing of the COE should be pegged to the car owner's NOA. There are families, people with disabilities/medical conditions who require a car for convenience, as public transport may not well serve their needs. For now car ownership has become "a luxury"/ "rich people sport", when it shouldnt be that. The higher income tiers can afford to pay the higher COEs and are the ones driving up the prices, but certainly not the average joes.
every year people feedback to straits times, LTA always give canned replies with usual transport control measure excuses. pap need lose more GRC to wake up and ask what this means to average joes which are majority people.
I felt like the recent videos are portraying SG to be a ridiculously expensive place to stay in, and now with the "absurd" car prices. what people don't understand is, if everyone in SG can afford a car. be prepared to be stuck in traffic for hours just to get home from work. I experienced it first hand in the cities of China and Indonesia and it is crazy. The public transport in SG is so efficient and convenient but it feels like in SG, a car becomes a "need" to be more convenient and also a symbol of status. I didn't get a car till my mid 20s due to the nature of my work, I found it way more affordable to just cab about without the hassle of owning a car. SG is expensive because of the wants and not the needs.
It seems to me the Singaporean government is doing everything to prevent people from buying vehicles but somehow Singaporeans see owning a vehicle as a matter of pride and luxury that they are willing to overlook the outrageous costs and severe limitations just to get one. The COE starting at $120k alone is nothing more than giving the government free money in exchange for a piece of paper that says you are entitled to own a vehicle for ten years, the cost of the vehicle itself can be at least 2 or 3 times more than the market price not counting the insurance and road tax. Fuel prices in Singapore is also much more expensive that other countries. Instead of COE system which only the wealthy can benefit the government should perhaps look into allocation systems that is fairer (each family is entitled to one etc)
Why is one "entitled" to a car regardless of one's earning abilities? You want to force poor singaporeans to buy a car if they cannot afford one? Aren't you playing into the hands of car companies and encouraging consumerism?
@@scbchong6964 Of course it can be optional like HDB subsidies for families with children. Most of the average families are struggling to even earn 30k a year and some of the interviewees in the videos have highlighted how families with children need a car more however they can't afford it. Additionally in what way does the COE system helps at all? I don't see the roads free of traffic jams and price of COE keeps going up.
"but somehow Singaporeans see owning a vehicle as a matter of pride and luxury that they are willing to overlook the outrageous costs and severe limitations just to get one." Over time, it will just be a "it is what it is" mindset. "I only live once. COE is something that I can't control." "Money can't be brought into the grave." "Why worry too much and save for old age, when you won't have the energy to enjoy"
"Great video, Asian Boss! I really enjoyed learning about why cars are so expensive in Singapore. It's fascinating how the cost of owning a car is influenced by factors like limited supply, high taxes, and the Certificate of Entitlement (COE) system. The interviews with locals provided valuable insights, especially when it comes to the impact on everyday people and their decision to own a car. It was interesting to see the comparison to US car prices as well. The huge price difference between the two countries really highlights the unique challenges faced by Singaporeans when it comes to car ownership. It's also worth noting how some individuals mentioned the prestige associated with owning a car in Singapore, especially supercars. I appreciate the efforts of Asian Boss in bringing us these thought-provoking videos that shed light on different aspects of life around the world. Keep up the great work! Looking forward to more informative content like this. 🚗💡💪 Salamat, Asian Boss! 🌟🙌"
Singaporeans don't seem to realise that the premiums that they/we pay for the cars, result in us having a super smooth driving experience everyday without the horrendous traffic jams you see in most major cities as crowded as us.
@MrJonslife No it doesn’t, it just deprived less well to do citizen families of having a decent family car. A sign of the Rich getting richer while the poor is getting Poorer.
@Callsign-Blade_RunnerSG He can't help it. He's rich so he doesn't care about the rest who can't afford a car. He just loves his smooth driving experience yah.
It`s a tax. Singapore pays the most tax in the world when you consider housing and cars. But these are conveniently removed from the current price index basket of goods.
As with most countries, there are things that are cheaper and things that are more expensive. For example the medical care/health insurance system in the US is a mess. Even with "insurance" you could easily end up in financial ruin if you require a major procedure. Also the fact that eye care & dental care is separate insurance you need is stupid and just another expense.
Yeah because public transport is almost negligible in the US. It’s not accessible, not efficient & dangerous. Tons of junkies, criminals, crazy peeps etc
Never had to drive in Singapore, the public transportation is world class. The COE is a form of luxury tax because there is little necessity in owning a car when you can use buses, MRT, cabs or ride hail apps. Singapore is just a small island & these days the buses even stop and assist wheelchair bound folks.
I don't understand why all these people don't understand the main reason as to why the car pricing becomes way too crazy is to control the limitation of car ownerships and also to reduce the amount of crowding that will become an issue if population keeps on increasing whereby the plot of land still stays the same just like in Hong Kong..
Car prices are definitely insane in Singapore! I grew up half my life in Singapore and now live in the US. I am in a position to own multiple cars here now but if i were to still be living in Singapore, that will definitely not be the case.
You do know US is way bigger than singapore right Over there cars are considered as a need. People need to travel to other states or cities. And public transport is not that convenient like singapore. So you can't really compare withUS.
TBH as a Singaporean, the public transport here is fantastic and practically reaches everywhere that most people want to go, mostly on time and reliable. If one wants a bit more convenience, ride hailing services are easily available, widely used and are relatively cheap. With this alone, it makes it hard to justify needing a car for more convenience, in fact i think it comes with own inconveniences and costs (parking, insurance, road tax, petrol, car wash, etc).I don't imagine car ownership is a need for most people here unless you have young children (like < 10yrs old), elderlies, job requirements, etc. Other than that, it's purely a want and a luxury or for some, a hobby.
That's true. It's really convenient to get around with the public transport here. And it's definitely cheaper and easier to not own a car. Unless you have special needs or want a car for leisure, it's really not necessary to own one in Singapore.
South East Asia is so damn expensive even if Japan is next to it. A GR Toyota Supra is like 55k USD in USA, but well over 80k USD in Philippines/Thailand/Singapore.
@@mimioize1634 ONLY In SG where a Single Pdt can be Taxed 8 TIMES in 8 Different WAYS. 4G is ADDICTED TO💰💰💰 This Multi Level Taxation on Vehicles in SG that makes it THE MOST EXPENSIVE Country for Car Ownership. Vehicles are Slapped with 8 Different Taxations on A Single Product - Import Tax - ARF - COE - Registration - Road Tax - ERP - Petrol Tax - GST It is A Well Devised System to Squeeze the Citizens in Multi Faceted Taxation System. 61% Voted to Be SCREWED
Alot singaporeans have the typical mindset that neighbouring countries cars are cheaper. Yes perhaps for some japs car but if you are talking about luxury or fancy cars. The price is around the same as SG.
Love Holland village! Nice interviews and good diversity to get an idea. It boggles one mind if you hear this for the first time, all those unique rules and tax system
It’s because of the private hire vehicle fleets and the car sharing fleets that the private companies are aggressively buying and competing with the citizens. Since there is a limited amount of COEs available, the private companies use their economies of scale to swoop up the COEs that’s available and purposely bid it to an exorbitant prices due to supply and demand. Since people won’t be able to afford the cars due to the crazy COE prices, they will have no choice but to use the PHV and car sharing services. Now the citizens have been asking the government to put regulations on these companies and separate the COE category for such companies, like what they have done so for the taxi companies but why would they do that? The government is laughing and enjoying the extra revenue they are receiving. Higher COE cost also translate to higher prices of commodities due to the higher cost of transport. Additionally, the PHV and car sharing companies can sell their older vehicles at a higher prices from what they have purchased when the COE increase. It’s just a win win situation for the companies and the government while the citizens who really need cars suffer.
True. This statement is the most right about the situation in Sg...rather than those "fake" bubble dream who say save environment, save lanjiao...those mid class families that really need a decent A-B transport are the one suffering due to money game and poor gov regulations loophole
bro...u do understand what "economies of scale" means right? You think government gives a discount if u buy 10 COEs? You don't get any EOS with regard to car purchases. Also...u contradicted yourself by saying they used their EOS (meaning getting it cheaper), but then say that they bid at exorbitant prices...what does that even mean...so are they getting it cheaper by EOS or are they overbidding? Also...no choice but to use PHV/carsharing regardless of prices? Public transport? Which sane company would increase they costs by over bidding just to compete against a publicly owned public transport? Just using big words for the sake of it...gosh...
A lot of these young people live with their parents so that makes it affordable. My friend in Singapore always is amazed how cheap cars in the US is. My Nissan SUV when I bought it for 22,000 he was so amazed.
the reason i bought a car is because I got 2 kids. My house is far from mrt and bus stop. Both of my kids hates walking. Is quite hectic bringing them out using public transport. Normally before reaching shopping center my armpit and my ass already starting to sweat😂
The Auntie is funny. She owns a car and says it’s convenient, because she no need to walk to MRT and bus and it’s easy to carry goods after shopping… But, when asked for foreigner, she ask them not to buy a car and say public transport is very good in Singapore!!! Haha! 🤣 I think she don’t want to share the quota with expat! So kiasu! 😂
Are u expat? Living in your dream bubble central/CBD area where public transport is the best? Don't compare a "blur sotong" expat with the ordinary SG citizen and the Sg citizen I referring to is mid class Sg families...
How about the Singapore Government gives these limited COEs to the people by a lottery? People would apply for COE regardless of their income. On this way they could still keep the amount of cars low. That would be a fair system
Same as in Indonesia 🇮🇩 , the car tax is extremely high, u could purchase 2-3 cars of the same model in the US with the price in Indonesia, therefore only wealthy ones could afford it, even secondhand cars aren’t cheap also 😆
Actually car tax is usually quite high in neighbouring countries. Especially conti cars, for instance in thailand a brand new bmw series you can easily buy 3 to 4 of it in US.
I bought my first Singapore car in 1990 for $23K (Mitsubishi Lancer 1.2l 6 years old). A complete dog! Then I has a set of $15K-$25K cars: 1970s VW Beetles (yellow, red, blue, white) and later 8+ landrovers (green, red, white, lightweight, SWB, LWB, S2, S3, Defender). Audis: TT, A3, A6 - all used cars. We peaked at 4 cars in our condo - (Two classic, Two normal cars). Now in retirement in 2024 at 60 YO - we economise. 5 old cars: Mercedes 280SE, 260E. GWagon 300GD, Lexus Hybrid, Landcruiser VX V8. only one has Singapore plates... others are Malaysia plated,. .. Oh yes and a Singapore registered Can Am spyder. We pay MYR2.05 for a litre of fuel for our JB cars. The pristine JB plate 260E was bought for S$3850. The Toyota Prius equivalent CT200h was bought for S$10K in JB (35K MYR). It costs S$20 to fill the petrol tank for 600km range.
The question is why car are so expensive in singapore, i don't think this video provide enough contents to this question. The aspiration of the current owners are perspiration for many on the line queuing for car. It comes back to the saying, grandpa and grandma each have their reasons. If you can change the system without the no choice symptoms, how would you do it?
It’s great for Singapore putting car prices very high because it will cause traffic jam and accident Another country should do this too but some country has very bad public transportation system so I don’t think another country can do this
Other countries can never do this because they land size is much bigger than Singapore They have many states and cities and people need to travel around. And usually public transport is only available in the capital or major cities. So cars are considered as a need over there whereas Singapore itself is a island nation. Public transport cover the whole island so there isn't really a need to own a car.
Car is not a necessity in Singapore. Bus come every 5 mins and train comes every 2 min during peak hour. To avoid crowd, go to office 30mins earlier and have breakfast. No one to send kids to school? Or take grandpa breakfast every morning? Hire a foreign maid. Cost about SGD1200 per month. Average monthly cost of owning a car is SGD2k.
This is exactly what the Indian chap in the video was talking about. People that don’t own cars don’t understand the value of owning one. Bus comes every 5mins, MRT comes every 2mins, but owning a car is about convenience and a better lifestyle. Who wants to squeeze into buses & trains with strangers that don’t shower in the morning. With a car, you save time, no need to wake up at 5am for 7:30am school. There’s still value in owning one, as long as you can afford it.
@ckokloong I strongly suspect you have no young children and old folks to take care of to claim that “public transport is more convenient” than having a personal transport like a car at one’s disposal..
I would say that this interview is very superficial and very targeted using catchy title just for viewership. There is no depth and hardly any basic research done to provide some background. Below are some of my personal views even with hardly any research done. 1.Singapore's TOTAL land area is 729 sqkm. By comparison, Singapore is much smaller than most major cities and hundreds to millions of times smaller than most countries. Hence the land used for all types of development must be well planned, public transport is at least 10X more efficient for transportation compared to personal vehicles (80-90% of time in parking lot taking up valuable space). 2.Singapore's public transport system is very well developed, as what some interviewees mentioned. To travel by public transport from any location to another location, it usually won't take more than 1 to 1.5hours (there are some exceptions at really remote corners of the island). In comparison, many cities or countries does not have very well developed public transportation, hence having a personal vehicle is essential rather than a luxury. 3. Singapore does not have significant manufacturing activities directly related to personal vehicles, hence there is no direct economic incentives to sell more cars, in comparison to major manufacturers. With all these key factors, cars are mostly a luxury item (of course there are exceptions, some jobs require driving frequently). Some people also own cars more as a show rather than for daily commute. Some rich people own multiple cars for hobbies. The COE system's primary objective is to control car population, and does it well, however, it is not perfect and there are some room for improvements. Examples would include allocating certain % to families with essential needs, usage based charging (the less you use, the more you pay), better classification of vehicle types, etc. Any type of change would require LTA to do more work, so it is up to LTA to do the work or just leave things as it is since it is bringing in the bucks. ;)
Singapore has one of the best public transportation systems in the entire world, and it is extremely cheap by any standard, as well as efficient and safe. For the vast majority of people, there is no need whatsoever to drive in Singapore. Those who are elderly, disabled, or pregnant can benefit because of the easy point-to-point transport (especially if someone else is driving), but if more people who don't need cars had them, the streets would be clogged, and everybody would lose because of this. I applaud the government for enacting measures that benefit all of society. Just look at some places that have become infested with cars and have poor public transit. You have no choice but to have a car and then sit in traffic.
Getting rid of COE won't necessarily clog the streets. HK has no COE and has a very efficient public transport system. Only 13.5% of HKers own cars while in Singapore it's 11%
@@robocop581Good point, but if the COE were immediately removed, I would think the car ownership rate would go up. Besides, car ownership rate and percentage of trips done by car are two different things. One might own a car but use it only once a week for shopping and leisure, opting to use public transit for commuting. I don't know how Singapore and HK compare in that statistic.
@@person880 There are no stats for car usage, only ownership. Plus many HKers own more than one car so maybe HK has the same number of licenced drivers as Singapore percentage wise
To each their own .. Take a typical normal sedan brand new Toyota Camry @ 260k for 10 years ownership Car operating cost estimated at 70% of the purchase price over 10 years Above excluding interest, unless one is taking a loan 442k over 10 years or $121 a day to own a private transportation (Not forgetting non car owners need to spend money on taxi or public transport daily too) Say if you take 2 hours by public transport, and 30 minutes by driving to work one-way You save 3 hours a day with a car, and are able to ferry family, run errands and do more things with that 3 hours. Even just catching more sleep is good. If the car can bring back more "value" than said cost, it justifies the purchase financially. If not, then you're paying a premium for that experience, emotional and personal appeal, which is non-quantifiable Cheers
For me lah why the cars are so expensive in Singapore because Singapore is small, so if the government make the car cheap then the country will be full of cars. That's why the government want to make people taking a public transportation instead of having their own cars. To save space without having too much cars in a small country.
After driving for 45yrs I recently gv up. No point paying hundreds of thousands but end up always waiting for parking lots n fuming at slow turtle drivers, thousands of traffic lights crossings. No more a joy n convinient in driving. In the past still hv many open spaces with free parking. Gv u that kind of bohemia feelings. Now it's stressful n liability to own a car
Having a car is important to families with kids. No matter how good the transport system is , just imagine, the buses and trains are most of the times packed and you have 2 babies to bring along, you can't even get up the train or bus at times, how are you going to get to the location.? In addition, imagine trying to calm a baby down in a crowded train / bus. I really hope the government can do something about this, and not always incresing the price of COE because it is really a struggle for families with kids.
Take a taxi/grab like the rest of us. Only 11% of Singaporeans own cars. Just let the 11% pay the added COE tax and to fund the rest of us and the government should not do anything
@@zhucongshi6770agreed, however its important to know that PHV / taxi drivers will also choose to reject / accept the bookings, depending on the prices / location, and that will impact people that desperately need a transport. Just to share, there was once I saw this family desperately trying to book a grab / taxi for close to 30 mins but did not get any transportation and finally got a booking after waiting for a long time.
I believe that if the government is truly committed to creating a car-free city, they should focus on establishing conveniently located stations within a 5-minute walk from every area. These stations should be equipped with well-stocked supermarkets, reasonably priced convenience stores, a variety of essential amenities, pharmacies, dining options, and liquor stores, all readily accessible to residents. Major capital cities such as Seoul and Tokyo have successfully implemented this kind of infrastructure. However, our current urban layout often requires people to gather at malls, typically on weekends or evenings, to fulfill their daily needs. This results in both pedestrian and vehicular congestion. The truth is that owning a car tends to become more of a necessity in situations where one has a family with young children or elderly members, a large family, medical conditions, and when the nearest mall is a 20-30 minute commute away.
There are people in other countries have kids and do not own a car. And other countries are much bigger than sg. So base on this theory all couples must have a car.
Won't take you two hours via Singapore's public transport? You should try staying at Pasir Ris and working in Tuas west. Let's see how long you can last taking the public transport everyday to work.
Nobody talks about some of thr practical reasons for cars being so expensive in sg. Traffic jams are one reason, but more to have a sustainable public transport system that works well and is for the masses. Moreover on a larger scale it is seen as a wealth tax: given most families still take public transport to send kids to school, what makes one so special that one's kids need to wake up later and have the luxury of being ferried to school? My ah ma is 80 years old and still take public transport, so what's so special about those who "need" a car (can we not talk about fringe cases here)? The fact that we have an efficienct public transport, low income taxes, high affordability for healthcare for the masses, more than justify the wealth tax on cars. The country is run on the basis that the masses get a good life and the rich has to pay more. Good trade off. And just to be clear, I can afford a car 1 year post graduation using just my salary. I just choose not to, and i respect that people have different needs and wants. Whats more, i can more than easily grab to work and get it reimbursed if i want to, most days i still take the train.
It’s true that car is symbol of luxury and people who don’t own it’s richer than car owner but if car owner is wise and don’t mock anyone it will be fine
People here, as usual, complain about the high cost of owning a car. Worse are ppl who have been saying, COE n taxes r for the govt coffers. Unless u r blind & don't see infrastructure being built & improved. Comparing Sg car prices & US??? Lacking Sense of proportion & size? How much space does ONE car occupies, moving or not. How big is Sg, (go look in the map, if u can find it) Govt has to build roads, highways, pedestrian paths, traffic lights etc & most of all, carparks. What about other facilities, housing eg,. Don't just think for yourself. Since d govt discourages owning cars, they've built a 1st class transport system. Go take a look at other countries when on tour, don't just enjoy the view.
Well said. Alot of singaporeans just blindly complain about car prices and keep comparing with other countries. If you want to compare with other countries you have to look at their size too. Other countries have many states and cities and public transport is usually only available in the capital or big cities. So if people do not own a car how are they going to travel, they may have to go to another city to visit their family members, friends, relatives etc. Singpore itself is a island nation and the whole island is cover with public transport.
I planning on buying a car that cost $25k usd or above, if y’all don’t know Donut release a video a futuristic car that’s worth spending on. And COE is high as hell, now 100k I think, my dad say it was 10k in the past. At this point, I rather built a jet pack
I visited Singapore for two weeks to visit my brother and it was an awesome stay, the fact that I can go anywhere easily with public transport is a gem, not having to drive and just relax or sleep while commuting after work is a huge boon I wish I could have in my country.
For the problem of people buying too many cars ,I don't think it will help that the price of cars are increased. How about putting a cap on the total possible number of cars that can be sold. By making the sale of cars as an auction where the number of cars sold is still the same but who it goes to depends on who is willing to pay more.
You guys didn't get to the most important reason on why cars are expensive in Singapore... It being a super small country, its gov puts high cost on owning cars and the number of cars a family can own
Singapore has roughly 8,500 people per square kilometre. The 23 special wards - just the 23 special wards - of Tokyo have roughly 15,500 people per square kilometre. Sure, one can argue that the special wards of Tokyo are connected to a whole bigger island that is over 313 times bigger than the size of Singapore. But when it comes to car ownership, in Tokyo, there is only one single requirement beyond having a driver's licence for ownership of a car in the special wards: proof that you have space to park your car. That entails receiving a Parking Certificate and a Parking Badge. All it costs is 2,600 yen for the first time, plus 900 yen to reissue every 40 days afterwards (as far as I understand it; please correct me if I'm wrong!). If this is true, and if I've done my maths properly, supposing that it is possible to keep the same space over ten years, it comes to 85,000 yen (shortcut conversion: about $850) over the whole ten years. Even if you take inflation into consideration, it might be $1,000 for the whole process. I don't understand why Singapore makes car ownership such a monetary mountain to climb, even if you're driving an old, beat-up jalopy.
Because you forgot singaporeans have high incomes. And people with too much money become greedy, selfish, quarrelsome and inconsiderate. Cheap cars would cause pollution and nasty road behaviour.
I don't understand why - Maybe consider that Singapore is a tiny country and if cars were cheap, there will be gridlock and that adds to economic losses? Does that make sense? Imagine what would happen if the car population doubled or tripled. Build more roads in a tiny country where space could be used for other purposes? Build more carparks at residential areas? Build more carparks at commercial/office buildings? I'd want a cheap car, I'd even want two. But as someone who understands the bigger picture, I live without one and rely on the public transport system, and taking ride-hailing services when I want to.
Wow that’s insane! I’m not bragging because most Americans have owned multiple cars along their lives but I’m 40 years old and have owned a total of 11 cars 4 of those brand new and 5 motorcycles 2 brand new as well. But to be honest I’m tired of driving all the time. I enjoy riding my motorcycles more. But I get why Singapore has those crazy car prices.
I'm not Singaporean, but the COE and higher price for owning car is a good thing, as if all Singaporean having a car, it would be a traffic disaster. Yet the government had developed the good public transport infrastructure. Anyway, I'm Indonesian living in Jakarta Greater area, as the car ownership is lots cheaper than in Singapore, people are buying cars and the traffic is horribly insane. Here in Jakarta you can get a car as cheap as 120,000 SGD for a new car, and some of them even have no parking space for their car. Good job Singaporean!
Cars enable an alternative lifestyle in Singapore, allowing easy access to places that are difficult to go to without public transport. At the same time unfortunately, the price is just ridiculous......
Oh my, I appreciate my life being an American because I’ve paid my SUV in cash. SUV is very pricey but in USA, we can afford them because we are car makers! I have driven hummers and Cadillacs. My son drives Chevy Malibu and mustang all paid in cash. There’s no gap between wealthy Americans and poor Americans in USA, both of them had an opportunity for luxuries.
If ur unwell tired or don't feel like driving, it's ridiculous that u need to drive in order to get anywhere. Kids should have the freedom to go out with their friends without needing a license to get to places
Well at least the purchasing power for Singaporeans are strong. Come ask Malaysia haha, we are forced to buy one even those earning low wage, most can’t even afford a corolla or equivalent.
Wrong. The COE cost is not lost but stored and depreciated equally in the paper value of the car. The paper value is a store of value and can be used as currency to offset the cost of the next car, new or used. And you don't need to repurchase a new COE for used cars.
See the interview you know already. The young folks if you mid class sg/Sgpr till mid 30s if papa mama dont dig cpf or their "investments", they wont be able to own a car unless that fellow doing some illegal joint or "someone is others fool" business. Aunty uncle happy they lived thru days where COE during early 90s-00s was few hundred dollars siaa.during that time. Come their children, died laaaa...so those in their "bubble dream" that public transport is err errr errr mostly cover sg, yeah...if u live in angmoh sai concetratic area or CBD, yaaa then go lament best pubric transport.
For pet owners, owning a car is a necessity because we're not allowed on public transportation with our pets . Even cabs will reject us. In times of emergency, not owning a car can cost your pet's life.
Public transport simply cannot match private cars in terms of efficiency, convenience, speed, comfort, quality of life and lastly status. e.g. NSmen are discriminated and treated like criminals for taking a seat in public transport.
Getting from Changi to downtown takes double the time on train compared to car... Tried it last year and i am leaving for changi on SQ again next saturday...
@@mahomisawa4172 It is a huge deal and when I was overseas, I realised the commute time is insane. Take for instance, in SG, if I travel to City Hall, I need 49ish mins. Thats the same time to travel from Glasgow to Edinburgh, a whole different city
And the time it takes to park your car, maintain and repair it, do the paperwork for it, the car washes, the insurance work, etc? Did you forget about all that? If you want a car like that, it's called a taxi. It takes a few minutes to buy an EZ-Link card, and maybe 1 minute to top it up every so often.
For me, I survive in Singapore by not being the norm, i.e. dont buy car, dont travel at peak hours, dont eat during meal times, dont work a regular job, dont aim to own a big property, dont buy bak gua during CNY, dont buy mooncakes. its all demand and supply really...
People forget Singapore’s a tinyyy island of 5.4million population, with one of the highest GDP per capita, & an average worker here has 34% more purchasing power than one in New York. It makes tons of sense for cars to be expensive becus everyone would jolly be able to afford one if it isn’t. And no one will be able to get anywhere on the roads! Also, Singapore has one of the best transport system in the world, known for its efficiency, affordability & assessibility. You can’t walk more than 15mins without seeing a bus stop anywhere. So, cars are expensive here. Yes, as it should be. Do ordinary Singaporeans NEED cars? Definitely not. But why is Asian boss so interested in spreading falsehoods of Singapore recently? All videos on Singapore, implying that it’s expensive etc. Go look at your own failing backyard, Korea
Hey Asian boss!!! Come, let make a guess. How many time is the US bigger than Singapore in land size? US is 13,508 times bigger than Singapore. Even the smallest state in US (Rhode Island) is 4.31 times bigger than Singapore. Not forgetting Rhonda Island population is only 1.05mil compared to Singapore 5.6mil population. What would the traffic conditions be like in Singapore if the cars were as cheap as the US? Any human with a brain will know that Singapore has no choice but to sell her cars with that price.
In a free market system though, couldn't they just have normal car prices, and let the market determine if there is too much traffic due to too many cars? I don't think it's the government's job to limit car ownership...
@@1988kcmo Govt's job is to run the country properly. Having too many cars and causing major traffic jams is not what a good govt would do. The free market is not always rational and this is one particular situation. You sustain economic losses if people are stuck in traffic doing nothing. The free market system cannot be applied to everything. Should the free market let all the rich Chinese come and buy out all our private property leading to even higher prices? So locals end up going into the govt housing market which in turn also goes sky high? A person coming from a place of logic and understanding of how the world works would know you need govt controls. Oh but govt controls are against free market principles, is the govt bad for wanting to manage property prices? Similar to car ownership.
Well said. Alot singaporeans just blindly compare other countries car prices. But they have to know other countries are way much bigger than singapore. They have many states, provinces and cities. And i believe public transport is only available in the capital or major cites. So for them cars are considered as a need whereas whole SG not even the size of their one city and the whole island is cover with public transport.
Putting aside the high costs (which is the reason for what follows), driving in Singapore is a genuinely pleasant experience. Traffic jams are not as bad as most of other cosmopolitan centers. And if there are jams, there are alternative routes which just add just a bit more time to your trip. Despite the high values, car theft is almost non-existent. Road infrastructure is well maintained and quite safe. In fact, you'd be hard pressed to find a junction which does not have a traffic light.
main cost driving up the cost is coe , decades old bidding system. It should be replaced by income based and balloting system similar to hdb. Everyone entitled to only one coe per ten yr with minimum say 30k coe. Higher capacity extra tax. $5k admin fee for background checks.
It used to be 'kinda' affordable 10-20 years ago even with the coe which cost around 60-70K. but now it just doesn't make sense to have a car depreciating 20K each year which only last u 10 years
Wrong. COE price was low from 2018 till early 2022. It's risen now only because back-to-work singaporeans are bidding against each other. And car rental companies are adding to their stock after the new vehicle shortages of 2022 and early 2023.