Good news for motorcyclists especially – but generally good news for everyone with a vehicle to their name
A Singapore past-time: monitoring COE (Certificate of Entitlement) prices and hoping they fall a little. Well, looks like everyone will get what they want as COE prices have dipped across the board in the latest tender released.
Motorcycles have it best as COE prices took the biggest plunge from $5,701 two weeks ago to a 3.5-year low of $3,512. COE for cars up to 1,600cc and 130bhp closed at $42,900, down from $46,778 two weeks ago. COE for cars above 1,600cc or 130bhp finished at $51,000, down from $53,711.
For those not in-the-know, the COE gives you the right to own and operate a vehicle for a period of 10 years. After that, you can choose to renew your COE for another five to 10 years. The COE price differs for each vehicle category and changes according to a monthly open bidding exercise, where bidders submit their reserve price (the maximum bid amount that a bidder is prepared to pay for the COE). Now you know how those previous ridiculous prices came around.
Are you more enticed to get a car or motorcycles in Singapore now?
Skip on COE andhop on a Vespa side-car tour or just hit public transport – but get ready for bumps along the way.