COE Premiums Rise Again After Sep 2023 Open Bidding Exercise
Certificate of Entitlement (COE) premiums are at an all-time high following the Sep 2023 open bidding exercise.
Exercises are held twice a month.
Only motorcycle premiums went down from S$10,901 to S$10,700, while other categories all saw an increase.
The largest increase from the previous exercise was in Open Category COEs, which rose by 5.6% to S$144,640.
COE premiums increase again after Sep 2023 open bidding exercise
The following are the results released on the OneMotoring website on Wednesday (20 Sep).
Source: OneMotoring
Category A car premiums are now at S$105,000.
Meanwhile, Category B cars, which are larger, now have premiums of S$140,889 — an all-time high.
In a similar vein, Open Category COEs are now at S$144,640, which is a 5.6% rise from the last exercise.
There were a total of 2,673 bids, according to Channel NewsAsia (CNA).
COE bids increase due to supply & demand mismatch
It’s never been more expensive to own a car in Singapore.
Every COE category is at a record high in 2023 — however, demand continues to increase.
To find out more about the COE and why it is so expensive, you can read this article.
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Featured image adapted from Kylle Pangan on Unsplash.