SINGAPORE: As Singapore's vehicle growth rate is reduced to zero per cent, transport analysts said they expect Certificate of Entitlement (COE) premiums to go up.
The Land Transport Authority*announced*on Monday (Oct 23) that Singapore will stop adding private passenger cars and motorcycles to its roads, dropping the vehicle growth rate from 0.25 per cent to zero per cent, in its latest push towards a car-lite society.
Singapore University of Social Sciences transport economist*Walter Theseira told Channel NewsAsia that the freeze in vehicle growth rate will lead to an "upward pressure" on COE prices.
"It's entirely logical that when you have an increasing population and increasing affluence in Singapore, and if demand for private transport on a per capita basis remains exactly the same, the only conclusion is - prices will go up," he said
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