Trending Around the #world #SINGAPORE COE prices soar ahead of supply shrinkage – Certificate of entitlement (COE) prices ended higher all round in the latest tender on Wednesday (Oct 20), as news of a smaller quota for November-January emerged.
COE premiums for cars up to 1,600cc and 130bhp rose by 12.1 per cent from two weeks ago to cross the $50,000 mark and end at $52,709, its highest since August 2016.
For the next three-month quota starting in November, there will be 3,528 COEs for bidding each month, down by 24.3 per cent from the current period.
For cars up to 1,600cc and 130bhp, there will be 1,063 COEs per month, down by 33.8 per cent.
For cars above 1,600cc or 130bhp, there will be 1,173 COEs a month, marking a 23.9 per cent drop.
There will be 290 Open COEs per month, a decline of 26.4 per cent. Open COEs can be used for any vehicle type except motorcycles, but end up mostly for bigger cars.
For commercial vehicles, the monthly COE supply will be 180, down by 21.7 per cent. And motorcyclists – who have been weighed down by record COE prices in recent months – will have 822 COEs per month, down by 7.5 per cent.
Industry players have been bracing themselves for the supply shrinkage because the number of deregistrations – the chief determinant of COE supply – has been sliding.
Read more at Straits Times on COE prices soar ahead of supply shrinkage- – https://www.straitstimes.com/singapore/coe-prices-soar-ahead-of-supply-shrinkage.
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