Certificates of entitlement (COE) ended higher again in the latest tender on Wednesday (June 22) as the easing of car-financing rules continued to fan pent-up demand.
COE for cars up to 1600cc and 130bhp rose from $53,694 last fortnight to end at $55,200. COE for cars above 1600cc or 130bhp crept up from $56,000 to hit $57,010.
Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, climbed from $55,100 to finish at $57,390.
All these premiums are now at their highest this year, driven up by the Monetary Authority of Singapore’s surprise move to relax car loan curbs as well as aggressive bidding from private-hire players such as Uber.
Commercial vehicle COE moved from $46,002 two weeks ago to land at a three-month high of $48,002. Motorcycle COE, long cornered by speculators, ended $1 higher at $6,303. The premium has been alternating between $6302 and $6303 in the last four rounds.
