$100,000 to drive a car: Life in the world’s most expensive city

It’s hard to hold on to kudos for a shocking rent increase story in Singapore. Three days after I was told I could extend the lease on my flat if I agreed to pay 50 per cent more, a friend discovered the rent on her family’s house will double when her lease ends in March.

Make any other choice – such as living in the prime central districts – and you need deep pockets. The city is regularly described, for instance, as the most expensive place on earth to own and run a car. This is due to the certification system used to keep a lid on the number of cars on the road on the small island.

Singapore has become more and more appealing for the rich, and often it makes sense for them to rent before they buy, because of the different levels of stamp duty that apply. Then there are the little things, the cost of food, power bills, taxis – everything has gone up in the last 12 months.

And did anyone write in the papers blaming the government, asking the government to intervene, that owning a house is their birth right?

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