WHILE home ownership is now a reality for nearly 90 per cent of Singapore's population, that other middle-class aspiration - owning a car - is fast receding due to the rocketing costs of car ownership.
A car quota system was introduced in the island state by the ruling People's Action Party in 1990. According to transport experts this was the simplest way to control the number of vehicles.
But the scheme has put the price of cars out of reach for many would-be owners and caused discontent with government planners.
Before buying a vehicle each new car owner has to pay for a Certificate of Entitlement (COE) costing from S$35,000 (HK$178,500) to S$80,000.
Meanwhile, the public sees government coffers swelling as a result of the high price of acquiring a COE.
An attempt to stop speculation by making COEs non-transferable in 1991 failed to lower prices.
In 1992 the Government introduced the weekend car concept. The certificates for this category cost less, but a vehicle could only be on the roads between 7 pm and 7 am on weekdays, after 3 pm on Saturdays and all day Sundays and public holidays.
