Is it time to reevaluate the COE system?

COE prices ended mostly lower in the latest bidding exercise (May 4), due to a higher quota for May to July 2023. But they are still on the high side - over $100k for Cat A, Cat B and Open category - still a challenge for the average Singaporean to own a car. Question now is, should something similar to the cooling measures being introduced to control the skyrocketing prices of homes here, be also introduced to the COE system? Measures such as the recently raised Additional Buyer's Stamp Duty (ABSD), have been put in place to prevent property prices from rising too quickly, and to ensure that housing remains affordable for the average Singaporean. However, as home prices are being kept in check, there are growing concerns about the cost of owning a car in Singapore, with soaring Certificate of Entitlement (COE) premiums making it difficult for many to afford a vehicle. Is it time to reevaluate the COE system? Listen to this mini panel as Lynlee Foo and Ryan Huang host Associate Professor Walter Theseira, Transport Analyst, SUSS and Julian Kho, Editor & General Manager, Media, sgCarMart. Download the podcast here: https://www.moneyfm893.sg/guest/associate-professor-walter-theseira-suss-and-julian-kho-sgcarmart/ For more, tune in to #Breakfast with Lynlee Foo and Ryan Huang every weekday from 6am-9am. Tune in to MONEY FM 89.3 via the Awedio app today! Available on the App Store, Google Play and more. -- Connect with Us! Facebook: MONEY FM 89.3 Instagram: @moneyfm893 Twitter: @moneyfm903 LinkedIn: MONEY FM 89.3 -- Contact us: MONEY FM 89.3 Headquarters: +65 6319 1900 Live Studio: +65 6691 1893 SMS/WhatsApp MONEY FM 89.3: +65 8855 0893 Mailing Address: SPH Radio Pte Ltd 1000 Toa Payoh North News Centre Singapore, Singapore: 318994