Singapore pricing of the Mk 7 GTI

[DoggieHowser]

Been there a few weeks back, more bmw's, audi's, merc's and supercars on the road than low budget cars.

It really points to the income disparity. Singapore has one of the worst GINI coefficients around and is a semi-legit tax haven in the region. So there's a lot of foreign capital in Singapore that is causing one of the highest cost of property in the region. With the limited number of COE (certificates of entitlements) being issued, and COEs subject to bidding, it means the rich can afford to bid way more than the average folk. The COE costs about 60k now, with only a few hundred issued per month (that means only a few hundred new cars being registered on the road each month). This compared to a million dollar Ferrari is just a rounding error, but it can more than double the price of a Corolla.

There was a case a while back where a Chinese national living in Singapore drove a limited edition Ferrari 599 through a red light at close to 200km/h, ploughing through a taxi, killing the taxi driver and his passenger.

[Sunny43.5]

I remember being in Singapore back in the early 80,s what struck me was an add in the paper for a BMW the car was only 2 or 3 years old and the owner stated in the ad that he was desparate to sell otherwise it would go to the wreckers because apparently each year a car is on the road the rego taxes etc goes up enormously .