This BMW costs S$535K in Singapore…

The most expensive place in the world to own a car is in Singapore. This is not because everyone is so wealthy. It is simply the economics of demand and supply in play. Being a city of less than 800 square kilometres, it has to put a cap on the car population, lest the roads get choked. Any well-travelled person will know that Singapore does not have the traffic congestions experiened in most developed cities. But of course, there is a trade-off. This 5-series BMW costs more than half a million Singapore dollars! (You could buy a landed property with this amount of money in Australia 🙂 ). …and you have the license to drive it for only 10 years. Hence, clearly it is a depreciating asset and you are better off using Singapore’s public transport – which is one of the cheapest and most reliable in the world.

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