Last week, I posted a short article Time to Buy a Car? on COE prices increasing because of the government's move to restrict the supply of COE.
It will definitely not be surprising if the prices continue to climb higher as that is what the authorities hope to achieve. With a limited supply of COE and a high demand for cars, bidders will have no choice but to push the prices higher.
How the ordinary Singaporean is going to afford a car is now a big question mark. With prices so high, I think most people are better off taking public transport. Couple it with the ever increasing HDB prices, the cost of living in Singapore is definitely going up.