COE prices expected to rise over next few months

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COE prices expected to rise over next few months
By Lee Huey Shin / Satish Cheney
http://www.channelnewsasia.com/imagegallery/store/phpm9UkvW.jpg

SINGAPORE: According to car dealers, with the expected rise in COE prices, now is the right time to buy a new car.

Dealers said the year-end usually sees healthy sales of new cars - up by some 30 per cent on average.

But the recent rise in COE prices is affecting such year-end sales.

In fact, dealers said the first two weeks of November saw sales go up by an average of 10 per cent only.

And they expect COE prices to go up further, as the Government reduces the COE numbers from April next year.

Alvin Lim, Sales Consultant with Komoco Motors, said: "A lot of customers are hoping that the COE might drop back to last year's price. Right now, since almost eight to 10 months, the COE has not been dropping. So I believe, if you wait until next year, I believe the COE will further increase because next year the LTA will reduce the number of COEs.

"If you don't buy now, you should buy before Chinese New Year whereby Chinese New year period I believe the COE will go even higher because more people will prefer to buy during the festive season."

-CNA/ac

 

[shOUTloud]

This time round I agree cos there is a wind of change in LTA now. After years of giving more COEs, they are finally reducing the number of COEs. COEs are going up in prices.

 

[Coolsaint77]

When i booked my car in January the dealers were tokking about COE going up. I find these kind of "upbeat" sales talk extremely annoying as if buyers can't make their own judgement. Same for properties.

In the end booked the car because the sales girl was chio and i was planning to change car anyway. Ok that was an idiotic way to make a decision i know. But now i wished i did the same about property!

Now... for once... in 2010... these "upbeat" sales talk turned into reality.

I think these sales people, in their capacity, should not make too much of these "market stirring" statements. I believe people can judge themselves. The moment they start saying such things, a lot of people start believing the opposite instead.

 

[garlic]

If he can predict such market trends, he wont be selling cars.

 

[shelltox]

he didnt predict the trend , he just knows what the govt is doing ie reducing the number of coe

 

[LonewolfAlfa]

When i booked my car in January the dealers were tokking about COE going up. I find these kind of "upbeat" sales talk extremely annoying as if buyers can't make their own judgement. Same for properties.

In the end booked the car because the sales girl was chio and i was planning to change car anyway. Ok that was an idiotic way to make a decision i know. But now i wished i did the same about property!

u must have been listening to 99% of the forumers here. they have been screaming daily that the property bubble will burst tomorow and laughing that the owners will be bankrupts.

its almost 5 years now and those who believed these so called 'property experts whom do not even own any pte property' find themselves sitting at their hdb void deck lamenting that they have missed the bus as prices continue to climb and new measures are introduced to keep private properties out of the common man's reach.

 

[no_faith]

@LonewolfAlfa, i would not say u r totally right.

i would agree ppl have missed the boat. but too much will cause the boat to sink. it might not be great dmg. we juz dunno when it will happen.

still, everyting is up to individual to consider.

 

[NoNewsGood]

he didnt predict the trend , he just knows what the govt is doing ie reducing the number of coe

Back then, the government already announced that they will be reducing the number of COE per month. You don't need a genius to predict that prices would go up.

 

[johnny333]

\
....do not even own any pte property' find themselves sitting at their hdb void deck lamenting that they have missed the bus as prices continue to climb and new measures ...

Nope, those wandering the void decks will be those lamenting that they still owe the bank. Those with enough $$$ to speculate on property will be long gone