COE premiums for cars highest in almost two years, with Category A rising to over S$104,000
The last time the COE price was higher for Category A was in October 2023.
Traffic at a busy intersection in Singapore. (Photo: iStock/davidf)
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SINGAPORE: Certificate of Entitlement (COE) premiums for cars closed at their highest in nearly two years in the latest bidding exercise on Wednesday (Aug 20).
For smaller cars in Category A, premiums closed at S$104,524 (US$81,330).
This is up from S$102,009 in the previous exercise, as it inched closer to the all-time high of S$106,000 in October 2023.
Premiums for larger and more powerful cars in Category B rose from S$123,498 to S$124,400. This is a high since December 2023 when prices hit S$130,100.
Open category COEs, which are mainly for large cars, rose from S$122,334 to S$125,001. The last time prices were higher in this category was in December 2023, at S$133,388.
COEs for commercial vehicles, which include goods vehicles and buses, also rose - from S$70,001 to S$72,190 on Wednesday.
Motorcycle premiums closed at S$8,809, down from S$9,189 in the last exercise.
A total of 4,760 bids were received, with a quota of 3,126 COEs available.
This is the second tender under the August to October COE quota. At 18,701, the overall supply of COEs is up by nearly 2.6 per cent compared with the previous quarter.
COE premiums had risen steadily in 2023 before hitting record levels towards the end of that year. They have since fallen but prices in the Category B and the Open category have rarely dropped below the S$100,000 mark.
