Inflation is moving more slowly than it was earlier this year — both in Hawaiʻi and in the rest of the United States. But in some places, prices are still rising for certain products, including the price of a car in Singapore.
Singapore's government says it's never been this expensive to own a car in the Southeast Asian city-state.
The financial commitment we're talking about is $115,000 — and that's before you even buy any car.
That's the price of a “Certificate of Entitlement” individuals need before they are allowed to get a vehicle.
The government issues a relatively small number of them to limit the number of cars in Singapore.
But that certificate and the purchase price of the vehicle are not the end of automobile expenditures.
The Global Wealth and Lifestyle Report says Singapore is the most expensive city to buy a car, adding that ownership can cost more each month than raising a child.
And then there's parking — which varies with location.
The Independent Singapore News reported that a driver was shocked to pay the equivalent of more than $36 for 14 minutes of parking this summer.
Parking can be expensive in many parts of Asia. In some places, long-term parking can cost a small fortune — and that's not hyperbole.
For years, Hong Kong has had a speculative market in parking spaces.
The South China Morning Post reported that the problem led to one space trading hands on Victoria Peak overlooking Hong Kong harbor for the equivalent of more than $1.5 million.
