The cost of a Certificate of Entitlement (COE) to own a car in Singapore has hit a record high of $106,000, (₹8.82 Crores) the highest since it was introduced in 1990.
The COE is a quota system that the Singapore government uses to control the number of vehicles on the road. The COE is issued through a bidding process, and the highest bidder wins the COE.
Demand for cars in Singapore has been strong in recent years, as the economy has grown and incomes have increased. This has pushed up COE prices, the average monthly salary in Singapore is around $4,500, and has a population of around 5.5 million
The COE had an “open” category which allows you to buy the desired car without any restrictions and the record high for that is $152,000
If you double it you can buy a boat in the United States
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