Singapore will not allow any more cars onto its roads starting 2018

Kelvin Reese
October 25, 2017

From February 2015 to January 2018, the growth rate is set at 0.25% per annum.

To own a auto in Singapore, you need a certificate of entitlement from the Singapore government. A limited number are made available via auction annually.

LTA added that the vehicle growth rate will be reviewed again in 2020 and that the upcoming adjustments are not expected to significantly affect the supply of COEs. Next year, the growth target will be zero.

Singapore's population of 5.56 million has grown almost 40% since 2000 according to Fortune.

Starting in February next year, the small city-state at the tip of the Malaysian peninsula will reduce the permitted annual growth rate of its passenger auto and motorcycle population from 0.25 per cent to zero.

Come February next year, the city-state will no longer allow any new vehicles into the country, citing land shortage and overcrowded roads.

According to the LTA, 12 per cent of the city-state's land is taken up by roads.

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This is the second time in less than three years that the vehicle growth rate has been slashed.

She wasn't kidding. To mitigate this, LTA also announced that the government would be investing a whopping $28 billion in public transport over the next five years.

The total number of vehicles peaked at 974,170 in 2013 and declined to 956,430 in 2016.

The cap will be applied to motorcycles and private vehicles.

These are expensive. And the bigger your vehicle, the more the certificate will cost. Drivers need to buy a special certificate from the government - which can cost as much as 50,000 Singapore dollars ($37,000) - before they can hit the road. For this reason, there are only around 600,000 private cars in Singapore, which has a population of over 5.5 million people.

A 2014 survey by Deutsche Bank found that Singapore was the priciest place in the world to buy a vehicle - with prices for a mid-size auto up to five times as much as the same auto would cost in the US.

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