COE prices down across all categories in latest exercise
Certificate of entitlement (COE) prices fell across all categories during the latest bidding exercise yesterday.
The largest drop was in premiums for small cars up to 1600cc and 97kW, down to $27,000 from $36,704 two weeks ago.
For larger cars above 1600cc and 97kw, premiums dropped from $48,010 to $42,564.
For goods vehicles and buses, COE prices went down from $28,559 to $27,400.
For motorcycles, the premiums dropped to $3,202, down slightly from $3,352 in the previous exercise.
The open category, which can be used for any type of vehicle except motorcycles, saw premiums go down to $47,000 from $52,502.
Mr Raymond Tang, 53, managing director of Yong Lee Seng Motor Pte Ltd, told The New Paper that he does not see prices going down any more in the next few months.
"Premium prices have been going up for several months now," he said.
"Now is just an adjustment period for all the premiums, and this is a good chance for consumers to purchase."