The certificate of entitlement market has not crashed despite this not being a usual cycle, given the three-month suspension on COE bidding during the Covid-19 pandemic, said Transport Minister Khaw Boon Wan yesterday.
Bids for COEs saw a significant spike in the motorcycle category - from $4,489 to $7,702 - despite a 50 per cent increase in quota. Mr Khaw expects the spike in motorcycle COE bids to"peter out", noting that the $7,702 bid was below the historical high of $8,451 in February 2018.