The title "Why Driving in Singapore Is Like ‘Wearing a Rolex’" suggests an analogy between the prestige of owning a luxury car in Singapore, much like how wearing a Rolex watch signifies wealth and success. This article highlights that driving in this city-state is not only expensive but also carefully designed to be so by its government.
Singapore's high cost of vehicle ownership can be attributed to several factors. Firstly, the Certificate of Entitlement (COE), which allows a car to be registered and used on public roads for 10 years, is auctioned off in Singapore. This means that demand-supply dynamics play a significant role in determining its price. When there's high demand but limited supply, prices tend to skyrocket - just like the bidding wars we see during exclusive auctions of luxury items such as rare art pieces or vintage cars.
Secondly, Singapore imposes additional taxes and fees on car owners. These include road tax, vehicle registration fee, annual inspection charges, and even a carbon emissions-based charge known as ERP (Electronic Road Pricing). All these contribute to the overall cost of owning a car in Singapore. It's like having multiple layers of security measures protecting the exclusivity and value of that Rolex watch - each layer adding its unique touch to make it even more desirable yet challenging for others to acquire.
Moreover, due to limited land space, parking spaces are scarce and expensive in Singapore. This further adds to the cost of owning a car there. It's similar to how certain luxury items might have limited availability or require special storage conditions that make them even more valuable.
In conclusion, driving in Singapore is indeed like wearing a Rolex - it signifies wealth and success but comes with its fair share of challenges and high costs. The government's strategic approach towards controlling vehicle ownership ensures exclusivity while also managing traffic congestion and environmental concerns effectively.
[Original Article](https://www.nytimes.com/2025/03/24/world/asia/car-certificate-singapore-luxury.html) #driving [Visit GhostAI](https://ghostai.pro/)
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