COE premiums fall in most categories at end of first tender of 2022

[SINGAPORE] Certificate of entitlement (COE) prices fell across most categories at the end of the first bidding exercise of 2022 on Wednesday (Jan 5), bucking earlier predictions that premiums would continue to rise after shooting up at the end of the last year.

The premium for larger cars above 1,600cc or 130bhp fell by the largest margin, closing at S$77,700, a 4 per cent decrease from S$80,989 at the previous round of bidding.

After hitting a six-year high at the end of last year, the premium for cars up to 1,600cc and 130bhp also ended lower on Wednesday, closing at S$57,599.

This is 2 per cent lower compared with S$58,801 on Dec 22 last year.

The premium for Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, also fell to S$82,501, down from S$83,889 at the previous bidding exercise.

The COE price for goods vehicles and buses also finished 4 per cent lower at S$42,200, compared with S$44,000 two weeks ago.

The price for motorcycle COEs was the only one that went up on Wednesday, but only slightly. Premiums in the category ended at $9,689, S$88 higher than S$9,601 at the previous tender.

At Wednesday's tender, a total of 2,436 bids were received for a quota of 1,800 COEs available.

THE STRAITS TIMES