SINGAPORE — The drop in Certificate of Entitlement (COE) prices for two categories of cars on Wednesday (May 17) surpassed some experts’ expectations, but most of them believe that the premiums will not remain relatively low for long.
This is because of the long pent-up demand in the market, with the experts pointing to how the number of bids received at each exercise always outstripped the quota allocated.
Meanwhile, COE premiums for motorcycles came in at S$10,602, more than double the S$5,002 seen in the last bidding, but lower than the S$12,179 on April 19. This was because the increase in COE supply is very small in relative terms, said the associate professor from the Singapore University of Social Sciences.
He was referring to a move by LTA in January to calculate the number of COEs available for bidding in each quarter based on the rolling average of a longer precedingOn the other hand, car dealer Raymond Tang found the latest drop in COE premiums as “not so great”. Mr Tang said that while prices have gone down this time round, it might be due to some consumers holding back for the time being to look at the impact of the latest policy change.
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