Traffic along Clementi Road on Sept 19, 2012. Certificate of entitlement premiums rose in all categories at the latest tender on Wednesday, Sept 18, 2013, fuelled in part by impending changes to the system announced last week. -- ST FILE PHOTO: CAROLINE CHIA
By Royston Sim
Certificate of entitlement (COE) premiums rose in all categories at the latest tender Wednesday, fuelled in part by impending changes to the system announced last week.
Premiums for cars up to 1,600cc increased by 8.3 per cent to $83,751, while premiums for cars above 1,600cc surged by 11.9 per cent to $86,239.
The COE premium for the open category, which can be used for any vehicle but ends up mainly for cars, jumped by 8.8 per cent to $87,001.
The premium for commercial vehicles continued to rise by 2.7 per cent to a new record high of $76,001. The motorcycle premium also went up by 2.6 per cent to $1,703.
Last week, the Government had announced a new criterion for cars in Category A. From next February, only cars with a brake horsepower (bhp) of 130 or less will remain in Cat A. This is on top of the existing criterion that caps engine capacity for Cat A cars to 1,600cc. The announcement prompted many potential car buyers to visit car showrooms last weekend.
Here are the latest Certificate Of Entitlement results from Wednesday's bidding exercise: