COE Open category closes in on $100,000 mark

MOST certificate of entitlement (COE) prices ended slightly lower in the latest tender on Wednesday but the Open category - used almost exclusively for cars - finished a mere whisker from $100,000.

The Open COE closed at $97,889, up from $96,101 two weeks ago. The price is just $2,111 away from the six-digit level.

The other premiums, although having slid, were not much farther away.

COE for cars up to 1,600cc finished at $91,010, down from $92,100. COE for cars above 1,600cc ended at $95,501, down from $96,210.

Commercial vehicle COE closed at $57,051, down from $60,000. Motorcycle premium slid from $1,933 to $1,781.

Observers said the latest round of property cooling measures might have dampened the appetite for new cars. But they noted that from next month, when another cut in COE supply kicks in, prices are likely to head north again.