The hope is that COE prices will moderate with the increase in supply, he said. Read more at straitstimes.com.
SINGAPORE – More certificates of entitlement that are guaranteed to expire in future peak supply years will be brought forward to fill the present supply troughs, as the Government moves to tamp down record premiums for owning cars and commercial vehicles here.
“I need to be upfront with everyone that it is not possible to predict how prices will move in the next few rounds of COE bidding, but I want to assure honourable members and the public that are doing what we can to address the concerns,” he said.The first instance of the Land Transport Authority bringing forward future COE quota was in May, when it said it woulddue to expire in the next projected supply peak.
“We are effectively... borrowing from the future,” he said. “That is also why... we have to be quite calibrated and not overdo this cut and fill, because there will be downsides in the short term.” The COE price for smaller cars also climbed to $106,000 and the commercial vehicle premium remained high at $84,790.One-third of S’pore resident households own cars, down from 40 per cent a decade ago
He said a better outcome for everyone involved can be achieved if this “peak-to-trough ratio” is reduced.
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