The most expensive piece of paper in the world

Before you buy a new set of wheels in Singapore, you have to get a Certificate of Entitlement - a piece of paper which accompanies each vehicle that basically allows drivers to use the car for 10 years on the road.

The price for that piece of paper has recently risen to almost SGD100,000 (about USD80k). The last I checked, USD80k could buy your a nice Porsche 911 in the US or the UK easily. USD80k could even get you a house in some places.

That piece of paper is just the beginning. Cars themselves are slapped with a 150% tax when they arrive on Singapore shores. The result? Even a relevatively modest set of wheels like a Honda Civic costs SGD163,000 here.

I must confess that I love cars. My favorite programmes to watch on the telly are the UK shows such as Top Gear, Fifth Gear and Wheeler Dealers. But at the current state of affairs, getting a nice car in Singapore is pretty much the doman of the uber rich or the expats with a fat car allowance.

I have thought several times of leaving this island to go somewhere where sense prevails - somewhere like Australia or New Zealand where prices of things are on a more sensible scale. I guess thoughts like these probably cross the minds of most Singaporeans occasionally. What holds us back is the thought of family that we would leave behind. When push comes to shove, I am sure many of us will reconsider our options in the years to come.