SINGAPORE — The Certificate of Entitlement (COE) premiums for the Category B and Open Category have risen to the highest in almost 30 years, closing above $100,000 at the end of the bidding exercise on Wednesday (8 June).
Premiums for Category B cars, which are bigger and more powerful, rose about 5 per cent to $100,684. Category B cars have engine capacity above 1,600cc or with horsepower above 130bhp, or are fully electric with maximum power output above 110kW. There were 851 bids received for the quota of 528 Category B COEs available.
For the Open Category, which are typically used for large cars, premiums also rose by five per cent to $100,697. There were 316 bids received for the quota of 190 Open Category COEs available.
The latest COE premiums were at the highest since December 1994, when premiums in the then Category 4 cars surged to $110,500.
Premiums for Category A cars, for cars with engine capacity up to 1,600cc and maximum power output up to 97kW, rose to $73,801 while premiums for motorcycles increased to $10,000.
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