I see many youngsters driving new cars. I think either they earn a lot or their parents bought for them. Not surprising if a household has 4 or 5 cars. You can see this especially among those living in landed properties. Anyway, COE prices are not expensive. In the past, when salaries were lower, COE ever reached $100k. Now, with salary levels doubled, COE price is only $63k for Cat A. So, there is still room for COE price to go higher.
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BTO flats are indeed very cheap. This allows families to not worry about paying their housing loan as they can use their CPF. So many families, young and old, use their salaries to go for holidays, eat at restaurants, buy new cars, etc. Singaporeans are so lucky to get cheap housing. And better still, after MOP of 5 years, they sell their flats and get big, fat profits. They can buy new cars again. So easy to buy new cars.
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We just change a new E class... Only $260k... So cheap...if COE goes up to $100k, my E class will be worth $300k ...
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The Nov first COE bidding already start. Even though there are 700 Cat A COE, there will also be more than 1500 bids and COE price will likely close at more than $65k as people are rushing to buy new cars before the lunar new year.
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I see more and more cars along the street in my estate, mostly from condo dwellers around the area. One family mum and son both park their respective cars along the road (which means dad's got one parked inside the condo). Recently a new one has appeared parked along the road and seems to be a common sight so I am guessing someone bought another car. These are not soon to be scrapped cars either, more cars then parking lots.
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