Rising Demand Drives COE Prices Up Across Categories

In the first Certificate of Entitlement (COE) bidding exercise for October 2024, premiums surged across all categories. For the first time since last October, Cat A COE premiums surpassed $100,000, rising by $5,275 to settle at $103,799. This category, covering cars with internal combustion engines (ICEs) up to 1,600cc and electric cars with power output under 110kW, saw significant price increases. Similarly, Cat B COEs, for higher-capacity ICE vehicles and more powerful electric cars, climbed by $6,001, reaching $116,002. The premium hikes reflect growing demand and ongoing market pressures in the region.