COE
Certificate of Entitlement (COE) premiums for automobiles in Singapore have once again set new records, according to the 2nd bidding results for September 2023 (20 Sep 2023, Weds).
Category A. COE premiums have reached an all-time high at S$105,000 (approximately US$76,927). This represents a substantial increase compared to the previous tender's rates and surpasses the previous record set in April earlier this year.
Category B. COE premiums for Category B surged to S$140,889, marking a notable 4.4% increase compared to S$134,889 in the previous tender.
Will COE Prices Go Down?
Based on a historical 10-year cycle, prices would usually fall during high COE supply periods. The next period for a high COE supply period has been predicted to be around the late 2024, with some expected lag in the market for prices to reflect the new level of demand.
Reduce Volatility In Supply
The LTA will be redistributing 6,000 COEs over the next few quarters to reduce volatility for COEs in Category A and Category B, a one-time adjustment that started since May 2023. This does not change the zero Vehicle Growth Rate (VGR) on the overall car population.
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