Singapore Says Rising Car-Permit Costs Unlikely Foreigner-Driven
Traffic at Orchard Rooad junction in Singapore.
Photographer: Edwin Koo/BloombergThis article is for subscribers only.
Wealthy foreigners and car-rental firms are unlikely to have caused the surge in the cost of permits giving people the right to buy a car in Singapore, acting transport minister Chee Hong Tat said.
Data from the last three quarters shows the largest driver of demand for cars has been from Singapore residents, Chee told lawmakers on Monday.