We got married 20 years ago and now we are in our early fifties. We are still staying in our first flat which we have paid off the mortgage. The 5 room flat is now worth $650k. Over the years we have also accumulated some cash savings, $150k in total. Our combined income today is about $145k pa.

Do you think we should sell our flat and upgrade to a condo? We can buy a resale condo for $1m. We will pay down $800k (from flat sale proceeds, CPF and cash) and loan $200k. We can easily service the $200k loan using our monthly CPF.

The purpose for us to upgrade to a condo is to have a better, more secure, more privacy, more posh living environment as well as to enjoy the many facilities in the condo. Also to reward ourselves for working so hard for many years.

We hope to hear sincere advice from the successful gurus here.

Don't sabo leh. I am waiting to renew my COE at $30k. Some forumer say here that it will crash to $30k. Please dont make my dream burst.

If the COE does drop to $30k, it does not make sense to renew the COE of a 10 year old car. I renewed the COE for my trusty old Civic but found that it was not worth the "savings". First, you have to send the car for yearly inspection. Second the road tax increases by 10% each year to max 50% by the 15th year. Then things start to fail. I thought I know and maintain my car well, but after 10 years, it is a different car!

And you don't have all the fancy features and gadgets that new cars come with.

If the COE does fall to $30k, go for a new car!

Don't worry, COE will not reach $200k. Prices will range between $80k - $100k over the next few years. This is the new normal range. Why is this so?

1. Compared to 10 years ago, there are now many rich DUAL INCOME families. Both husband and wife work so they have lots of money for them to buy new cars. They may even get one car each.

2. There will 100,000 car owners in 2015 and another 100,000 car owners in 2016 who are changing to new cars so demand for new cars and COEs. On top of that with more new younger drivers who aspire to buy new cars, COE prices will continue to rise.

3. Oil prices have gone down and so the cost of running a car is cheaper. So demand for new cars will shoot up since it is cheaper to buy, own and use your car than taking a taxi.

4. Owning a new car is a status symbol, just like owning and staying in a condo. Many PMEs aspire to own new cars and new condos.

5. Over the past 10 years, property prices have gone up. Many people got rich by flipping their BTO flats and so they can afford to buy new cars.

6. Due the drop in the value of money over the past 10 years due to inflation, a $100k car today is seen as more affordable than a $100k car ten years ago. So a $80k COE is actually more affordable today than a $80k COE ten years ago.

Today at 3.30pm, you will witness the excitement of COE bidding. Have you booked your car?

Today, Cat A will likely close at $72k and Cat B will likely close at $75k

By Dec 2015, Cat A will likely reach $85k and Cat B will reach $90k

By Dec 2016, both Cat A and B will likely reach $90k plus

If your car is old, good to change to a brand new car now before COE prices go higher

Demand for new cars is very, very high

Car dealer, dont come and scare people la.

COE will drop like a rock to $30k by mid 2016.

Time : 3:15 pm. Cat A COE- $63K liao

So exciting. Only 3:40pm already $71k for Cat B... Another good month for LTA!

CAT B $74K

Huat ah!

WELL DONE. you are pretty close to guessing Cat B. Are you a minister?