13 Mar '13, 4pm

Singapore's Car Permit Prices Fall Most in 4 Years on Loan Curbs - Bloomberg

Singapore's Car Permit Prices Fall Most in 4 Years on Loan Curbs - Bloomberg

The cost of Singapore vehicle permits fell by the most in more than four years after the government limited the amount of money banks are allowed to offer for car loans. The price of so-called certificate of entitlements, or COEs, plunged 37 percent for cars with an engine capacity of at least 1,601 cubic centimeters or 1.6 liters, to S$58,090 ($47,000) at yesterday’s auction. Those in the open category dropped 29 percent to S$65,001, according to government data. Both declines were the most since January 2009, when Singapore said the economy may shrink by a record. Car prices have jumped with rising permit prices, pushing up ownership costs last year to about the same as the median U.S. metropolitan home. The number of households that own a car in the city of 5.3 million people rose to 45 percent last year from 40 percent in 2008, Transport Minister Lui Tuck Yew said. “Th...

Full article: http://www.bloomberg.com/news/2013-03-13/singapore-s-car-...

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Singapore February Home Sales Drop 65% After Government Measures - Bloomberg

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