Chen was more pessimistic about the market in Kaohsiung, saying that the company's NT$400 million project there, which was launched five months ago, has only seen a 60 percent closing rate.
"The market there is at rock bottom," he added.
A salesperson at a Kaohsiung-based affiliate of Chinatrust Real Estate Co (中信房屋) agreed, adding the market there had stagnated since the middle of last year.
Traditionally, he said, most agents open all year round -- except for the Lunar New Year vacation, as government offices do not process documents relating to home purchases.
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