Singapore Family Sedan Matches Cost Of A U.S. Home

By Wes Goodman - Jun 5, 2012 7:27 AM GMT+0800Q
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Singapore Hottest Topic

1. COE price

COE for cars above 1600cc crosses 90k this week, it was probably somewhere near 15k in 2007.

2007

2012

2. Property Price.

A HDB flat cost 200k in 2002 may fetch a price of 400k today.

If my memory serve me correct, it was the year 1996/97 and i was an undergraduate sitting at the Hall of residence 10's lounge browsing through the sunday newspaper, eager to know how much it takes to own a car and a house back then, it was a awakening for me then and awakening for me no. The cost was quite similar to what it is right now. Its amazing that Asian Financial crisis has gone and forgotten and wow... we are  at the top again.(Depends on what 'Top' are you referring to).
Millions Billions dollar question: Is this the beginning or the end?
Other Blogs or Sites on COEs:
1. Lion Dens.
2. Littlespeck

wow,

it is really fascinating when car prices in Malaysia and Singapore are revisited.

The last time i posted on this topic was back in the year 2007, back then i was wondering why the car prices was so expensive in malaysia compared to singapore in term of purchasing power.

however in the short span of four years, a quick check on the car prices listed on their toyota website shows that,

To own a Toyota Altis in,

a) Singapore - SGD 100,000 (RM 240,000).

b) Malaysia - RM 105,000.

Car prices in singapore has increased by a whopping 100,000-60,000/60,000 = 67%!, while in malaysia the price remains almost the same.

This might be attributed to the following factors,

1.) Economy expansion - Salary has gone up and more residents can afford to own a car.

2.) Increase in population in the last 5 years - addition to the above, there are new residents that can also afford to own a car.

3.) New quota system for issuance of COE - this has resulted in lower COE being released?.

what say you?

Purchasing power - Malaysia vs Singapore

Incase you do not know, the price of a vehicle is Malaysia is almost the same as its cost in Singapore. For example if you buy a Toyota Altis in,

Malaysia, a check at http://www.toyota.com.my/ show a price of RM 102,514.80.

Singapore, a check at http://www.toyotasingapore.com.sg/ show a price of SGD 58,988.

If you drive across causeway and up north, the cost of the car in RM will be 58,988 x 2.3 and, it work out to be RM135,672. Its about 30k more than it cost in Malaysia.

Well imagine that there is two of you, one working in Malaysia and the other in Singapore and doing the same job. One earning RM 3500 and the other SGD 3500...

Ermm... its pretty obvious that who has more purchasing power isn't it? My question is why can't the car in Malaysia cost cheaper so that its affordable to the 'rakyat'?