COE Premiums Drop Across All Categories in Latest Singapore Tender
SINGAPORE — In a significant shift in the Certificate of Entitlement (COE) market, premiums have dipped across all categories during the latest bidding exercise held on 23 October 2024. This marks the first broad decline in COE prices since June 2024.
Dropped Premiums Across Categories
- Category A (cars 1,600cc and below, with horsepower not exceeding 130bhp): S$102,900, down from S$103,799.
- Category B (larger and more powerful cars): S$113,890, a drop from S$116,002.
- Commercial vehicles (Category C): S$72,939, down from S$75,009.
- Motorcycles (Category D): S$9,589, less than the previous S$10,001.
- Open category (Category E): S$114,700, down from S$116,000.
Future COE Supply Set to Increase
According to the Land Transport Authority (LTA), the overall supply of COEs is expected to see a 4% increase in the forthcoming quarter. A total of 15,834 COEs will be available for the period from November 2024 to January 2025, up from 15,283 in the previous quarter.
Upcoming Bidding Schedule
Bidding for the new quota is scheduled to commence on 4 November 2024, providing an opportunity for buyers to secure the needed certificates amidst changing market dynamics.
What This Means for Buyers
This latest dip in COE prices may provide a golden opportunity for potential buyers looking to register new vehicles. With the increase in the number of COEs available, it’s a good time to consider the purchase of both smaller and larger cars or commercial vehicles.