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COE premium for Open Category hits new high of S$114,001 as prices rise across the board

The previous record of S$110,524 for a COE in the Open Category was set just earlier this month, when a 28-year-old mark was broken.

COE premium for Open Category hits new high of S$114,001 as prices rise across the board

Motorists drive along the Central Expressway in Singapore on Jun 4, 2020. (File photo: AFP/Roslan Rahman)

SINGAPORE: The Certificate of Entitlement (COE) premium for the Open Category hit an all-time high of S$114,001 on Wednesday (Jul 20).

This broke the record of S$110,524 from the last bidding exercise which closed on Jul 6.

The Jul 6 figure surpassed the previous record set 28 years ago, when prices in the then-Category Four classification reached S$110,500 in December 1994.

Open Category COEs can be used for any vehicle type but end up being used mainly for large cars.

Premiums in all the other categories also went up.

For Category A cars - or those 1,600cc and below with horsepower not exceeding 130bhp - premiums closed at S$78,899, up from S$78,001 in the last exercise.

Premiums for larger and more powerful cars in Category B meanwhile rose to S$110,003 from S$107,800.

Motorcycle premiums closed at S$10,910, up from S$10,889 in the previous bidding exercise.

COEs for commercial vehicles, which include goods vehicles and buses, increased to S$54,889 from S$54,001.

A total of 2,750 bids were received, with a quota of 2012 COEs available.

COE prices have been on an upward trend, with premiums for Category B and the Open Category crossing the S$100,000 mark on Jun 8.

What accounts for high COE prices? Listen:

Source: CNA/kg/vc


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