Not everyone has the right to own a car in the city of Singapore, as this city-state introduced strict regulations in 1990 to limit the traffic density on its roads.
The city therefore sells permits valid for 10 years, the price of which varies depending on the size of the vehicle, and which allow car owners to drive on the road.
The cheapest of these permits reached $104,000 this year, four times more expensive than in 2020, CNN reports.
To have the right to drive an SUV, you will have to pay more than $146,000, and these prices do not include the cost of purchasing the vehicle.
This meteoric rise is putting pressure on local car dealerships.
“Our sales were so bad anyway,” says dealer owner Ricky Goh. If we add another increase, things will get worse for business.”
Those who can’t afford to purchase a certificate can rely on Singapore’s sophisticated public transport system or a motorcycle license, which can be purchased for just over $10,000.