News analysis

Speculative bidding fuels COE price spiral

If nothing is done soon, COE prices look certain to soar well past 1994's record, says the author. PHOTO: ST FILE
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SINGAPORE - In November 1994, the certificate of entitlement (COE) for big cars hit an all-time high of $110,500 on the back of heated speculative bidding by motor traders.

The following month, the same premium plunged to $65,000 on news that the government was looking to ban car ownerships being transferred within three months of a secured COE.

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