More COEs available for February to April quota

SINGAPORE - There will be 4,705 certificates of entitlement (COEs) up for grabs per month from February to April - 18.3 per cent more than the supply in the previous three-month period.

Of the lot, the supply of car COEs (including Open) will rise 23 per cent to 3,766 per month. This is more than double the supply for the corresponding period last year.

The Land Transport Authority said on Wednesday the new supply took into account a new 0.25 per cent cap on annual vehicle population growth - down from 0.5 per cent previously.

The Open category is now made up of 10 per cent contributions from each of the other categories - down from 15 previously.

The increased supply of COEs, which should continue for the next two to three years, is expected to result in lower premiums in the coming months.