WITH the exception of motorcycle certificates, COE premiums ended higher on Wednesday in the last tender exercise of the current quota year.
Commercial vehicle COE posted the strongest increase, rising by 8 per cent to close at a six-year high of $17,610 - driven by strong demand for construction vehicles.
Major infrastructural projects to be completed over the next few years include two casinos, two MRT lines, the Kallang Sports Hub and the Youth Olympic Village. Not to mention scores of condominium projects.
Premiums for cars rose across the board, ahead of an 8.5 per cent shrinkage in COE supply from next month.
COE for cars up to 1,600cc, such as the newly-launched Toyota Altis, climbed 7.2 per cent to end at a four-month high of $15,389. COE for cars above 1,600cc, such as the BMW 320i, rose by 5.6 per cent to end at a six-month high of $19,001.
The Open COE, used mainly for cars, moved one per cent higher to close at $18,854, a six-month high.
Motorbike COE ended 6 per cent lower at $901.
Motor traders expect premiums to breach $20,000 in the coming months on the back of a 7.5 per cent reduction in COE numbers.
