COE premium for Open Category hits record high of S$110,524

Certificate of Entitlement premiums for vehicles have hit their highest ever, with prices in the Open Category closing at S$110,524. This beats the previous record set nearly three decades ago. Premiums across all other categories also rose in July’s first bidding exercise. The COE premium for smaller cars closed at S$78,001, while that for larger and more powerful cars climbed to S$107,800. Despite record prices, dealers are scurrying to lock in prices, as the climb is expected to continue with a shrinking COE quota.

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