Budget 2013: COE Prices
In this third installment of our three part series focused on Budget 2013, we discuss the effects of the recent MAS measures on COE.
The Straits Times Index has been on a bullish run of late, and there is continued exuberance in the property market. With mixed signals about the economic recovery in Europe, an improving situation in the United States and strong regional growth in Asia, Singapore does seem poised to register growth in the coming year, and this will translate into consumer demand for cars. The liquidity in the financial system will find its way to the motoring sector, as evidenced by the healthy growth of luxury and exotic marques in Singapore.
With the supply of COEs set to shrink, we see prices correcting slightly downwards, but barring any new landmark policy changes to either the COE regime (especially supply) or the ERP scheme in the short term, the era of “affordable” COEs may be well and truly a thing of the past.
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