COEs, which are needed to put a car on the road on the land-strapped island, are designed to fairly allocate car rights in the city-state for a period of 10 years, but post-pandemic demand has sent prices skyrocketing, along with the unique market dynamics of the system.
Total COE quota for November to January 2024 period will increase 12.9%, which may temporarily ease the shortage, but prices are expected to remain elevated.
