Continuing to show marked signs of slow recovery, the nation's property market saw housing prices slightly increase, but transaction volumes went down in the fourth quarter last year, a real estate indicator report issued by Cathay Real Estate Development Co (國泰建設) said yesterday. \nAlthough construction firms built more housing units compared with the third quarter, sales transaction rates dwindled in central and southern Taiwan, according to the report. \n"We predict that price and volume will remain stable this year as the real estate market continues on a path of steady growth," said Chang Chin-oh (張金鶚), a professor of land economics at National Chengchi University and the report's author, at a press conference yesterday. \nTherefore, now is an opportune time for first-time home buyers to enter the market, Chang said. \nNationwide, 25,197 new housing units totaling NT$193.4 billion (US$6 billion) were supplied to the market in the fourth quarter, up by 22 percent and 8 percent, respectively, from the previous quarter. \nAmong the five areas surveyed in the report, Taipei County saw a whopping 50 percent increase in terms of new units built, while other places -- Taipei City, the Taoyuan-Hsinchu market, Taichung and the Tainan-Kaohsiung market -- remained nearly unchanged from the previous quarter. \n"Transaction prices in each market have been on the rise for the sixth consecutive quarter, gradually returning to the level in 2001," Chang said. \nThe 2001 fiscal year was taken as the base period for this report. \n"But sliding transaction rates pose the biggest challenge in market operations," Chang said. \nThe Taichung market showed the lowest transaction rate due to oversupply and higher-than-expected housing prices, showing a wide gap in confidence between builders and perspective home buyers. \nIn the long term, northern Taiwan shows stronger momentum than its central and southern counterparts, the report noted.
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
BAD RAP: The exchange said Tatung had seriously breached shareholders’ rights and failed to give a satisfactory explanation of its board election dispute Tatung Co (大同) shares yesterday plunged by the maximum daily limit of 10 percent to NT$18.90, the lowest in three months, after the Taiwan Stock Exchange (TWSE) on Tuesday evening changed the company’s classification to a full-delivery stock effective tomorrow. The TWSE’s move follows the company’s failure to give a clear and satisfactory explanation of why it deprived dozens of shareholders of their voting rights during a board election at the annual shareholders’ meeting on Tuesday morning. Under the exchange’s regulations, investors are not allowed to engage in margin trading of a full-delivery stock, TWSE spokeswoman Rebecca Chen (陳麗卿) told
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With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate