On The Ground

Why COE prices no longer driven primarily by supply

New factors are now in play, leading to prices staying high amid pandemic-induced slump

Unhired private-hire cars parked at Supply Chain City last week. Car certificate of entitlement (COE) premiums are hovering at their highest levels this year - with no immediate signs of a slide - despite a pandemicinduced economic slump. Experts say
Unhired private-hire cars parked at Supply Chain City last week. Car certificate of entitlement (COE) premiums are hovering at their highest levels this year - with no immediate signs of a slide - despite a pandemicinduced economic slump. Experts say the reasons include the increased popularity of COE revalidation, the arrival of private-hire operators and pent-up demand built up during the circuit breaker period.ST PHOTO: ARIFFIN JAMAR

Singapore is in the midst of a pandemic-induced economic slump, so why are certificate of entitlement (COE) prices still so high?

That has been a common refrain in coffee shops and online forums alike, as car COE premiums hover at their highest levels this year - with no immediate signs of a slide.

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A version of this article appeared in the print edition of The Straits Times on November 02, 2020, with the headline 'Why COE prices no longer driven primarily by supply'. Subscribe