By Tony Ng

Premiums for certificates of entitlement (COE) have largely increased at the end of Sept's first open bidding, with the premium for Cat A hitting a four-year high.

The premium for small cars (1,600cc and below) surged to $18,020. This is a 20 per cent increase from the last premium of $15,019.

The last time it surged over the $18,000 mark was in Jan 2005, according to the figures released by the Land Transport Authority (LTA).

The increase comes on the heels of the revised off-peak car (OPC) scheme announced last month.

The premium for cars 1,601cc and above also rose by 18.4 per cent to $19,289.

The COE premium for the open category almost crossed the $20,000 mark - it finished at $19,830.

The open category can be used for any type of vehicle but ends up mainly for cars.

Motorcycle premiums also increased by 19 per cent to $1,051. But the premium for commercial vehicles took a slight beating to close 8.6 per cent down at $16,001.

tonyng@sph.com.sg