SINGAPORE — Certificate of Entitlement (COE) premiums rose across all categories at the close of the latest bidding exercise on Wednesday (June 22), bringing prices to their highest levels so far this year.

The biggest increase of 4.2 per cent was in the Open Category (S$57,390), which can be used for any vehicle type but are mainly used for big cars.

For small cars (up to 1,600cc and 97kW), COE prices increased by 2.8 per cent to SS$55,200 while the premiums for big cars (above 1,600cc or 97kW) went up by 1.8 per cent to S$57,010. The premiums for goods vehicles and buses rose 3.4 per cent to S$48,002. Meanwhile, motorcycle premiums went up by S$1 to S$6,303.

During the previous bidding exercise on June 8, COE premiums for cars also increased, on the back of relaxed car loan restrictions allowing buyers to borrow more and take a longer time to repay.

The curbs were relaxed three years after they were put in place, as the Monetary Authority of Singapore said COE prices have seen a sustained moderation that has eased inflationary pressures. Prior to the relaxation of the vehicle financing restrictions, COE prices had been stable, amid a bumper crop of COEs due to growing deregistrations.