COEs continue to surge

SINGAPORE - Certificate of Entitlement (COE) prices finished higher across the board in the second round of bidding in June on Wednesday (June 22).
SINGAPORE - Certificate of Entitlement (COE) prices finished higher across the board in the second round of bidding in June on Wednesday (June 22).ST PHOTO: WONG KWAI CHOW

SINGAPORE - Certificates of entitlement (COE) ended higher again in the latest tender on Wednesday (June 22) as the easing of car-financing rules continued to fan pent-up demand. 

COE for cars up to 1,600cc and 130bhp rose from $53,694 last fortnight to end at $55,200. COE for cars above 1,600cc or 130bhp crept up from $56,000 to hit $57,010.

Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, climbed from $55,100 to finish at $57,390. 

All these premiums are now at their highest this year, driven up by the Monetary Authority of Singapore’s surprise move to relax car loan curbs as well as aggressive bidding from private-hire players such as Uber.

Commercial vehicle COE moved from $46,002 two weeks ago to land at a three-month high of $48,002. Motorcycle COE, long cornered by speculators, ended $1 higher at $6,303. The premium has been alternating between $6,302 and $6,303 in the last four rounds. 

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 55,200 53,694
B - Car (above 1600cc)  57,010 56,000
C - Goods vehicle & bus 48,002 46,434
D - Motorcycle 6,303 6,302
E - Open 57,390 55,100

Source: Land Transport Authority