September 2016, 2nd Tender
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COEs dipped close to 3% in September
Certificates of entitlement (COE) dipped in the recent second tender in September. CAT A (1,600CC & below) dipped by 2.9% to end at four-month low of $50,000, and CAT B (1,600CC & above) dipped to end at four-month low of $55,501. The largest percentage of fall is CAT E (open) at 3% to end at three-month low of $55,201.
One of the reasons might be due to private-hire such as Uber scaling back their operations and also the recent announcement by the government to look into “loophole” where car owners are registering themselves as private-hire for a loan with lesser restrictions.
Singapore economy seems to be getting weaker but we are very sure that there are still many buyers out there eyeing for bargains.