But he said that the government had to do more if the real-estate sector was to make any substantial progress this year, including some drastic legislative changes regarding Chinese investment.
"The government should consider drafting a new immigration law that would allow developers from China who invest over NT$20 million in Taiwan to receive residency permits, which would encourage them to stay on and invest more," Lai said.
In justifying his remarks, Lai said he had recently travelled to China where he had met with 20 major developers who were keenly interested in investing in Taiwan, particularly in property around tourist sites and in major cities.
Industry leaders believe that Chinese capital could play a major part in the resuscitation of the real-estate sector.
Even though the government is studying such a possibility, the government appears far from ready to fling open the doors to Chinese capital.
And as for allowing Chinese citizens to reside in Taiwan, that appears even further away, as it has taken over 50 years for the government to allow tourists from China to make visits under tight regulations.
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