What’s really driving COE prices up and up

Some former car owners have been priced out of buying a new car, or renewing their COEs. PHOTO: ST FILE
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SINGAPORE – A decision to put off buying a car in 2021 has come back to bite Mr Huang Jie, as certificate of entitlement (COE) prices for larger and more powerful cars soared to a new high of $115,388 at the latest tender on Wednesday.

Premiums for Open category COEs, which can be used for any vehicle type except motorcycles, but end up being used mostly for bigger cars, also reached a new peak of $116,577.

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