The planned reduction of the vehicle growth rate to zero is not expected to significantly impact certificate of entitlement (COE) premiums, Senior Minister of State for Transport Lam Pin Min said yesterday.
This is because the growth rate accounts for only a small portion of the COE supply, which is determined largely by the number of vehicles deregistered. The Government has invested heavily in public transport so there is less need to own a car in future, he added.
Separately, National Development Minister Lawrence Wong said the spate of collective sales of residential properties may not translate into higher home prices.
He also gave two reasons for the sharp rise in collective sales: Developers are keen to replenish their land banks, and the successful sales from last year may have prompted more owners of ageing properties to cash in on their assets.