Is COE auction system broken?

Suggestions on revamping it fall short; sky-high prices could mean it's merely doing what it's designed to do

Published Fri, Apr 30, 2021 · 05:50 AM

Singapore

IF the people who buy and sell cars in Singapore have little fondness for one another, they at least have a common enemy: Certificates of Entitlement (COEs). These give someone the right to car ownership for 10 years - and it is a right that seems to be particularly prized at the moment.

Last week, COE premiums hit their highest levels in half a decade, with some in the car industry projecting more pain to come.