Spike in COE prices due to demand from local individual buyers: Transport Minister

The recent spike in Certificate of Entitlement (COE) prices is likely due to strong demand from local individual buyers, and not foreigners or car leasing companies, Transport Minister Chee Hong Tat told parliament on Tuesday (Nov 12). He added that Singaporean residents account for the large majority of successful COE bids, while foreigners make up a minority of such bids. Subscribe to our channel here: https://cna.asia/youtubesub Subscribe to our news service for must-read stories: Telegram - https://cna.asia/telegram WhatsApp - https://cna.asia/whatsapp Follow us: CNA: https://cna.asia CNA Lifestyle: http://www.cnalifestyle.com Facebook: https://www.facebook.com/channelnewsasia Instagram: https://www.instagram.com/channelnewsasia Twitter: https://www.twitter.com/channelnewsasia TikTok: https://www.tiktok.com/@channelnewsasia