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Singapore COE price for Open Category rises to new high of S$125,000

Latest COE prices for Categories A and B fell in the first bidding exercise with new increased quota for cars.

Traffic transportation stopped at red light on a street in Singapore, illustrating a story on the latest COE prices.
Certificate of Entitlement (COE) prices in Singapore for the Open Category reached a new all-time high of S$125,000 in the latest bidding exercise which ended Wednesday (17 May). (PHOTO: Getty) (HuyNguyenSG via Getty Images)

SINGAPORE — The Certificate of Entitlement (COE) premium for the Open Category increased to a new record of S$125,000 in the latest bidding exercise in May 2023 which ended on Wednesday (17 May).

Open Category COEs, which can be used for any vehicle type but are used mostly for large cars, rose S$998 to surpass its previous all-time high of S$124,501 in April 2023.

Meanwhile, COE premiums for Categories A and B fell in what was the first bidding exercise under the increased quota for cars in both categories.

Category A, which includes cars up to 1,600cc and 130bhp, or electric vehicles (EV) up to 110kW, saw prices fall to S$92,000 from S$101,001 in the previous bidding exercise.

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Prices in Category B, or cars above 1600cc and 130bhp, as well as EVs higher than 110kW, fell from S$119,399 set in the last tender to S$113,034.

COE premiums for Category C, which are reserved for commercial vehicles such as goods vehicles and buses, rose to S$77,501 from its previous price of S$75,589.

Category D or motorcycle COE premiums increased to S$10,602. This is an increase of S$5,600 from its previous price of S$5,001 in the last bidding exercise, which saw motorcycle premiums drop S$7,178 from S$12,179.

For this COE tender exercise, a total of 3,536 bids were received with a total quota supply of 1,844 COEs available.

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