Certificate of Entitlement (COE) to own a car in Singapore is a good barometer of consumer sentiment with the economy of Singapore. If the people living in Singapore had no confident with the economy, COE premium declined.
The following table tracked the Open Category COE premiums using January second bidding numbers.
|Year||Month||Open Cat COE ($)||Remarks|
|2001||Jan||30,712||Dot com bubble burst|
|2003||Jan||27,416||SARS (Second Bidding starts)|
|2009||Jan||3,000||Global Financial Crisis|
|2018||Jan||44,000||Uber leaves in April|
|2018||Sep||31,801||COE 1st Bidding|
January 2000 COE premium was $48,800. COE premium declined to $30,712 in 2001 when Singapore economy (GDP) gone negative. COE premium dropped to $3,000 in 2009 when Singapore economy was again in negative territory due to the Global Financial Crisis.
Since 2010, COE premium had been climbing. It reached a peak of $97,889 in 2013 before declining subsequently. 2013 was the year UBER came to Singapore. GRAB started in 2016.
At the start of this year 2018, the COE premium was $44,000. UBER left Singapore in April 2018.
COE premium declined in August and September and the last bidding exercise resulted in current COE premium of $31,801. This level of COE premium suggests a lack of confidence with the economy going forward.
Copyright © 2018, limkimtong for Living Investment
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