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Singapore Family Sedan Matches Cost of a U.S. Home

Vinay Mathur gave up on buying a new car in Singapore as the cost of a permit rose to the highest in 17 years. He settled for a two-year-old BMW 3-series.

“By the time we began seriously to think of buying a car, license prices had shot up,” said Mathur, 42, referring to the so-called certificates of entitlement, which are auctioned by the city-state and used to control congestion.