09 Jun '11, 3am

COE prices hit a 14-year high

SINGAPORE - Certificate of Entitlement (COE) premiums closed sharply higher in all categories in the latest bidding exercise yesterday. COE prices for small cars have hit the highest in 14 years, rising S$6,401 to S$53,390. The premium for big cars is now S$63,000. For the Open category, the increase is more than S$5,000 to S$62,000. (See table). Analysts say the increase can be attributed to a range of new models launched recently, as well as bids by taxi companies. Another reason why premiums rose across the board this month, said car dealers, was because the bidding exercise lasted for three weeks instead of the usual two. Hence, the number of bids rose by 20 to 30 per cent. Dealers say they expect COE premiums to remain stagnant for now but they foresee a rising trend towards year-end, partly due to the festive season. Another reason for the rise - anticipation ahead o...

Full article: http://www.todayonline.com/Hotnews/EDC110609-0000353/COEs...

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