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.
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
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.
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
@@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.
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😂
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
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.
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
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
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
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.
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.
Yeah because public transport is almost negligible in the US. It’s not accessible, not efficient & dangerous. Tons of junkies, criminals, crazy peeps etc
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.
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.
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.
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.
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 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! 🌟🙌"
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..
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.
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.
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.
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.
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.
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😂
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.
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...
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
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...
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.
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.
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
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
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
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.
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.
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. ;)
To own a car that maybe cost us 5-10x more than other countries due to the bidding price for Certificate of Entitlement (COE) Many of us just could not afford the COE that right now cost around US$80K (starts from S$1), which entitled us to use the car for 10 years.
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.
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.
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?
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......
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
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.
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.
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
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 am singaporean and i rather take public transport than taking cars the public transport is very convenient and very well utilised cars cause pollution
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.
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.
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
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...
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.
That's insane! i'm from m'sia, i own 3 cars now, its a must if you have a big family to move around. with that coe+ car prices, car owner must be really rich there 😮😅😅
Malaysia is very big. Cars is a need over there and i believe public transport is only available in KL and some major cities. But look at SG, the whole island is cover with public transport.
@@DaveLim-f1x that's i understand, but for a Bachelor without a family, i think is alright, but for a family, like meself, a car is a must to do errands, working etc. its not a luxury but a necessity. I do live outside KL.
Why are cars so expensive in SG? The simplest and truest answer is, when you buy one for yourself, you pay for an additional 4 for the SG Government through various forms of registration fees and import taxes and certificate of entitlement (COE). So, a car that costs $50,000 + $200,000 = $250,000. Enjoy your driving on our excellent and well-lit roads, expressways, bridges, flyovers, tunnels, underpasses, as well as the lanes in-between buildings.
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.
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.
A car these days is not a Luxury, depends on what kind of city you live, if public transports are awkward well you definitely need a car otherwise you cannot go to work in time.
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
Having the option to not have a car and still able to live your life comfortably is by large a luxury of its own.
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.
Even without a car, a bto is still expensive.
vanity is a common disease in Singapore
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!
Perks of being a city state
@@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
@@xiphoid2011the 2hours is the entire length of the country
A Singaporean said she was disappointed that a car is not a luxury item in Canada but a necessity. Owning a car does not feel elite in Canada.
depends on the car
what does she expect?
It's the same in Malaysia or USA, unless it's a BMW or other European brands.
Then go get a luxury car lah
Lies again? Grab Car Google Drive
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.
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.
Yet the system is broken
10 years. you can renew after the 10 years is up
@@grozaphy for the same price a new coe would be. Which is insane
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
A car is usually not a symbol of wealth. It is a symbol of debt.
Debt is not a bad thing if you know what you are doing. If you know, you know.
In Singapore's context 100% debts
Lmao.. You are poor.
Public transportation is always better.
@@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.
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.
Only about 13% of Singaporean owned a car and out of it more than 50% struggling to maintain the car hahha
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.
@@TwodaaeI agree. Buying a car with loan is just silly
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😂
Things took a dark turn real quick when the guy admitted he only bought a car because his parents were at the tail-end of their twilight years...
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
I would happily to take their public transportation for everyday commute than to own and driving a car in Jakarta
I feel you man 😂
@kevinvenxik5045
That is the issue with Jakarta’s poor road infrastructure planning and growth. Nothing to do with the convenience of owning a car.
So true traffic jam in here so horrible
Hopefully Singapore can build a lot more dedicated bike paths and bike parking areas as well
Lies again? Captain Of Euro USD SGD
I don't think you understand what weather in Singapore is like. Just going outside is difficult. Biking? Are you kidding me?
@@harveykim2525that sounds like a you problem
@@wurbski Watch the interview. Even the locals say that the weather is very challenging.
@@wurbski Actually a everyone problem since everyone is affected by humidity
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.
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
Well said. Vote wisely.
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
@iloveyellow7214 Proud of common sense? What?
If you were someone who's already 27+ and still cannot manage needs vs wants you wouldn't be in a great place financially today.
"need" and "want" equals to a term that either are u rich or not bo to afford...
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.
120 SGD is not too outrageous. Maybe you re missing a few zeros at the end?
120k
@@clownfish7776 I stand corrected as I missed out the k
Is 150k now not 120k..😂
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
Singapore people seem like great people.
Power to them, I wish them more success!
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...
Rubbish
@@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.
@@Gj8355r care to go into details?
Buying a car in Singapore feels like a total rip off.
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.
Rip-off forever.
I paid US$500 for my first used car in America and US$2000 for my second car.
I'm jealous😢
Yeah because public transport is almost negligible in the US. It’s not accessible, not efficient & dangerous. Tons of junkies, criminals, crazy peeps etc
@Timholle don't forget corruption, didn't you have a big corrupt lady/ government scandal?
I bought a really nice one for $7000 and I felt I paid too much haha. BTFO of Sinagapore
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.
Well said
The wants of the many outweighs the needs of the few.
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.
$45k... still cheap vs a $200k Prius in Singapore
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.
pretty sure when the prius came out at the beginning they were under 30k
You have lots of prats speaking nonsense here all the time. Like this clueless host
I was happy with using public transport and never would've bought a car if where I live now had it
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.
Go to a big country, all average joes can own car.@@alvin67788
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.
@@Callsign-Blade_RunnerSGthis is an example of rich getting poorer 😂
@@Callsign-Blade_RunnerSGthat is in Malaysia lah.. without car they are handicap.. Singapore is more about choice.. no car can save more money😂
Car is sg is like a monthly subscription. You pay for what you use..or rather you’re paying salary to your car
The guy with the Audi A5 coupe is the Singaporean version of Alex Albon. 😂
except that his english cmi
Maciam kepala buto 0nly😂😂 luxury 😂😂😂
@@chua5016agreed. His english is atrocious but he did bring some good points across
Yeah man sorry for my English hahahaha I never finish study that's why , btw I'm the A5 coupe driver
@@babiutan06 bro kau kerja APA? The Audi is excellent. Congrats. Well done.
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
Anyone can afford a car in Singapore if he is willing to do some delivery jobs part time. That will pay for the instalments.😊
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)
Exactly
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.
You hit the nail on the head. The COE system is an artificial scarcity created to line their coffers.
"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"
To have a car is privatcy, no need to sit at any seat on the bus or train. When crowded you will feel uncomfortable.
"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! 🌟🙌"
Good Interview
Good explanation
I’m from India
Have learn about Singapore car market.
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..
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.
Singapore too expensive.
We are underpopulated, so why can’t everyone own a car? It is not like we are overpopulated.
I'm quite sure even with coe , jams are pretty bad still on highways during peak hours where it matters the most
@@aloysiusgoh1278yea at most 30mins? wait till u see the jams in the countries I've mentioned.
@@adamtay-zp2bxthat's a first to hear that we are underpopulated 😅
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.
I agree. I don’t understand why dental and eye insurance is separate in the USA. They are very important. Makes no sense.
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.
Thats good. And permit is really expensive too.
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.
It's actually good thing to prevent the emerging of ridiculous car centric nation like the USA.
@@gedecandra7722yeah paying 80k for a Corolla is a good thing 😂 Singapore sounds horrible
@@mimioize1634It's not
@@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.
Good video !
Nice topic.
I stop to own car after 2017. We are able to save money for more oversea trips, including Antarctica.
I will stop owning a car when my kids turn 5-6 years old🤣
Then again, Singapore is not that huge and mass public transportation facilities are enough, so I can understand why they don't need a car
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.
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😂
🤣🤣
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.
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...
@@ae101rulez Angry KIASU!!!The aunty in the video must be you mum!🤣🤣🤣
I suggest buy a second car as your first car... there are much cheaper options but coe remains the same...
it would be cool to hear some asian countries peoples opinion on the Israel-Gaza war. Like you did when the russia-ukraine war started
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
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...
@@bcsianliang1568 Yala u very good, come everyone clap for this guy 👏👏👏
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 😆
Damn I thought you guys have cheap cars
I guess I was wrong.
@@cocaineminor4420 haha nope, here it’s 2-3 times the price in the US 😂 That’s why having a car is equal to social status here, a luxury.
@@cocaineminor4420don’t you want to know the annual tax that must be paid for owning a car… and the roadside illegal parking payment… 😂
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.
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.
Low car price will be a nightmare for the traffic. the public transportation is very convenient. no need to pay too much on debt.
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
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
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
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.
Ya the bus train drop you at doorstep
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.
Ya ya ....where u live? central? CBD area? People Living in Jurong but working in bedok takes 1 hour plus daily... efficient my foot.
It’s a passion for many
You do know that in sg, it is having more and more older people than young people (newborns) right?
I saw lamborghini svj in singapore near orchard rd I was super excited to see
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.
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. ;)
To own a car that maybe cost us 5-10x more than other countries due to the bidding price for Certificate of Entitlement (COE) Many of us just could not afford the COE that right now cost around US$80K (starts from S$1), which entitled us to use the car for 10 years.
You would have think that a 100k coe will drive demand down; sadly, It did not.
I also heard getting a singapore license is like getting a celebrity status. It’s really hard to pass in the driving center.
Not really uk and Germany is probably harder
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.
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.
This is why Singapore are the "crazy rich asians"
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?
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......
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
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.
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.
Singapore is so small and crowded, public transport is good. There is hardly any need for a personal car.
It is an expensive privilege to own a car. Maybe next election the govt should look into how to enable people to buy a car. Current system is broken.
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.
It's actually a big blessing not owning a car in Singapore even if one is financially sound. 😊
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
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.
Hard disagree, some parts really hard to get there lol
@@kagenlim5271 Indeed. You’re still need cars to go to KL. So many Singapore registered cars here in Peninsular Malaysia.
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..
@@Callsign-Blade_RunnerSG Which part of my comment says “public transport is more convenient”?
I am living in Japan and car is super cheap.. dirt cheap.
I am singaporean and i rather take public transport than taking cars the public transport is very convenient and very well utilised cars cause pollution
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.
We would be owning supercars if we were in the US…😅😅😅😅
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.
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.
Thats because US is a big country and cars are considered as a need over there. And since it is a need it has to be affordable for most people.
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
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...
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.
how much those car in Saudi / Indonesia?
That's insane! i'm from m'sia, i own 3 cars now, its a must if you have a big family to move around. with that coe+ car prices, car owner must be really rich there 😮😅😅
Malaysia is very big. Cars is a need over there and i believe public transport is only available in KL and some major cities. But look at SG, the whole island is cover with public transport.
@@DaveLim-f1x that's i understand, but for a Bachelor without a family, i think is alright, but for a family, like meself, a car is a must to do errands, working etc. its not a luxury but a necessity. I do live outside KL.
Why are cars so expensive in SG? The simplest and truest answer is, when you buy one for yourself, you pay for an additional 4 for the SG Government through various forms of registration fees and import taxes and certificate of entitlement (COE). So, a car that costs $50,000 + $200,000 = $250,000. Enjoy your driving on our excellent and well-lit roads, expressways, bridges, flyovers, tunnels, underpasses, as well as the lanes in-between buildings.
I bought a used honda civic in the US for $3000. Singapore car prices are insane
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.
buying a car in Singapore will be ur one of the worst choice in ur life(unless your job is in driving industry). waste of money
You should go to Burma
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.
A car these days is not a Luxury, depends on what kind of city you live, if public transports are awkward well you definitely need a car otherwise you cannot go to work in time.
If the goal is really to prevent traffic jams and pollution then find a way to tax cars proportionally to how much they are actually driven.
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
Why the heck you even need cars, in a country with the best public transportation in southern hemisphere?
5:32 Wow! Singaporeans know nothing of US prices. VASTLY under valuing how much cars cost in the US.
When you are paying premiums x10.. All the rest of the world are just cheap. Be it 10k or 40k 🤣🤣🤣🤣
Not really. UA-cam got alot of tiny home/mobile home channels often show their used car/van purchase. Able to get for less than 10k.