SINGAPORE - There are around 471,000 households that own cars in Singapore, of which 12 per cent - or 56,520 - have two cars.Providing this breakdown in Parliament on Tuesday, Transport Minister S. Isawaran said the proportion of car ownership has been relatively stable over the years, with no major shift in demand patterns that may have driven up prices for certificates of entitlement in recent times.
He also asked if the Government will consider measures to curb the demand for Category A COE from households buying their second, or subsequent, smaller car.ended at $90,589 in the latest tender exercise, Responding, Mr Iswaran attributed the increase in COE premiums to tight supply instead of demand. He also warned of “unintended consequences” in the market from adjusting the system.
“On balance, I would say that it does not necessarily follow that any effort to curb car ownership beyond the first car in any household will necessarily have a dampening effect on COE prices,” he said.