To buy a car, Singaporeans and expats here must bid for a 10-year Certificate of Entitlement – essentially a permit – and the cost has soared to record levels in the past month.
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A certificate for a so-called Category B vehicle, a class that includes popular crossover SUVs, as well as larger and more upmarket cars, is now costing buyers $SGD150,000 ($172,000), while permits for more basic, less powerful Category A vehicles are selling for up to $SGD106,000.
The clincher…
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