COE renewals reach new high

41,777 COEs were revalidated last year, 12.6% higher than in 2018, continuing growing trend

Property agent Elgin Lim, 46, with his Alfa Romeo 159. He says he is keeping his car beyond 10 years because he enjoys driving it, and it is economical to do so.
Property agent Elgin Lim, 46, with his Alfa Romeo 159. He says he is keeping his car beyond 10 years because he enjoys driving it, and it is economical to do so.ST PHOTO: WONG KAI YI

The tendency for people to keep their cars beyond 10 years has grown stronger.

Last year, the number of certificate of entitlement (COE) revalidations hit a new high of 41,777 - 12.6 per cent higher than the previous record of 37,114 in 2018.

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A version of this article appeared in the print edition of The Straits Times on February 15, 2020, with the headline 'COE renewals reach new high'. Subscribe