On 18 July 2019, LTA released the Certificate of Entitlement (COE) quota for August 2019 to October 2019 . Across all categories of vehicles, the monthly quota for bidding for August 2019 to October 2019 will be reduced. (See table below for the breakdown.)
Tip for first-time buyers: Category E has been mostly used for Category B vehicles although it applies to all except for motorcycles.
If you are looking to buy a car, what does this mean?
As COEs becomes less available, their prices will likely go up as demand far outstrips supply. We can already see signs of increased demand for COEs, especially for Category B vehicles (above 1,600cc or 130bhp). In the tender that ended on 17 July, the COE price for Category B increased by almost 16%.
(Related Story: COE Bidding Results on 17 July 2019)
So what does this mean? If you’e looking to buy a car, now may be the best time to do so before the prices increase in the coming months. If you’e looking to sell your car, the timing is just right for you to seal the deal as there are buyers in the market ready to purchase a car in anticipation of an uptrend in COE prices.
In addition, there are uncertainties on the horizon which may affect the demand for COEs. These uncertainties include possible regulatory changes to private hire cars and taxis, which may affect demand for COEs.
(Related Story: The Fundamentals Of Singapore’s COE System)