Motoring in Singapore got featured on Bloomberg yesterday with the article "Singapore Family Sedan Matches Cost of a U S Home". Here is an extract:
Job security has made people more willing to buy cars, helping drive prices higher, said Song Seng Wun, an economist at CIMB Research Pte in Singapore.
“There’s a certain degree of speculation,” Song said. “Due to the COE, you can make money by buying a car and selling it one year later. In most other countries, we’d say a car is a depreciating asset.”
Song said he takes trains and buses, and “whoever wants to drive and pay through the nose, go ahead.”