SINGAPORE - Certificate of Entitlement prices finished mostly higher in the latest tender, as the market anticipates a smaller supply of COEs in the upcoming quarter starting May .
COE prices for cars above 1,600cc or 130bhp ended at $39,401, a 6.6 per cent rise from $36,961 two weeks ago. The COE quota is revised on a quarterly basis and is determined largely by the number of vehicles deregistered in the preceding three months.Data from the Land Transport Authority , for example, show that there were around 4,690 cars above 1,600cc or 130bhp which were deregistered in January and February . In the same period a year ago , more than 5,480 of these cars were taken off the road.
Motor traders also say there is a higher demand for cars above 1,600cc or 130bhp , compared with those of smaller capacities and lower horsepower.