COE prices rise all round as bidding resumes after Covid-19 circuit breaker suspension
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Market observers noted that the increases were modest.
ST PHOTO: GIN TAY
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SINGAPORE - Certificate of entitlement (COE) prices finished higher across the board at the tender on Wednesday (July 8) - the first since March.
The COE premium for cars up to 1,600cc and 130bhp closed at $33,520, up from the previous price of $31,210 before bidding was suspended for three months because of circuit breaker measures. The premium for cars above 1,600cc or 130bhp ended at $35,889, up from $30,012.
The price for Open COE, which can be used for any vehicle type except motorcycles but which ends up almost exclusively for bigger cars, closed at $34,989, up from $32,500.
Market observers noted that the increases were modest, considering that motor dealers had three months to collect bookings.
Commercial vehicle COE price ended at $24,502, up from $22,002. Motorcycle premium finished at $7,702, up from $4,489 in March.
Retiring Transport Minister Khaw Boon Wan said on Facebook that the spike in motorbike premium was despite a 50 per cent increase in its quota.
"We are analysing the bids," he added. "If it was due to pent-up demand for motorbikes, I expect it to peter out."
