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Singapore

Open category COE prices hit 6-year high, crossing S$70,000 mark

Open category COE prices hit 6-year high, crossing S$70,000 mark

File photo of cars and other vehicles at a traffic junction in Singapore. (Photo: Jeremy Long)

SINGAPORE: Certificate of Entitlement (COE) premiums closed mixed in the latest bidding exercise on Wednesday (Sep 22), with open category prices surpassing S$70,000 for the first time since 2015.

The latest premium for the open category (Cat E) COE, which is used mostly for bigger cars, closed at S$70,002, an 8.2 per cent jump from the last tender.

Premiums for Category B cars, or those above 1,600cc or 130bhp, are also at their highest in six years. They ended 9.1 per cent higher from two weeks ago, coming in at S$68,310.

Category A (up to 1,600cc and 130bhp) prices closed at S$48,000, up from S$47,000 in the last exercise.

COEs for commercial vehicles, which include goods vehicles and buses, fell to S$39,000 from S$40,001 in the previous bidding exercise.

Motorcycle premiums closed at S$9,089, down from S$9,689 in the last exercise.

A total of 3,490 bids were received, with a quota of 2,342 COEs available.

Source: CNA/ng(ac)

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