The local property market continued its slowdown last month with market watchers expressing mixed views about its future prospects, a statement released yesterday said.
Evertrust Rehouse’s (永慶房屋) survey found that residential property prices in the greater Taipei area saw a 10 percent month-on-month decline to average NT$267,000 (US$8,670) per ping (3.3m²) last month while trading volume dropped by 15 percent in the same period.
Benson Liao (廖本勝), president of the parent Evertrust Group, yesterday attributed the market’s slowdown to an poorly performing stock market and rising consumer prices, warning that it was a home buyer’s market, but not for speculative buyers seeking profit gains.
“Sellers need to revise their pricing before more deals will be closed,” he said over the phone yesterday, adding that “a lack of earnings growth is keeping home shoppers from buying.”
The real-estate agency expects to see the local market rebound “in the second half of this year when the global economy recovers and the nation’s cross-strait economic deregulation provides a real boost to the local economy,” company president Yeh Lin-chi (葉凌棋) was quoted as saying in a statement.
But Chang Chin-oh (張金鍔), professor of economics at National Chengchi University, was not as optimistic.
“We are experiencing a bear market, which may only hit the bottom and rebound in three to five years’ time, because it won’t be easy to increase income growth in the years to come,” he said over the telephone yesterday.
The real-estate index, co-compiled by Chang and Cathay Real Estate Development Co (國泰建設), the nation’s second largest developer, showed that the 30-day trading volume indicator saw a 23.49 percent year-on-year decline in the second quarter of this year to reach 412 points, although closing prices saw a 6.15 percent growth at the same time, to average NT$195,500 per ping nationwide in the second quarter.
On a quarterly basis, both closing prices and the 30-day trading volume indicator jumped by 2.53 percent and 28.05 percent respectively in the second quarter, Chang said.
In addition, Evertrust’s survey found that the property market in Taichung saw 30 percent month-on-month decline last month, although average prices remained steady.
The property market in Kaohsiung, however, appeared to benefit from investments made by Hon Hai Precision Industry Co (鴻海精密), and the launch of the city’s mass rapid transit system, seeing a 5 percent growth in sales last month, compared with June.
However, closing prices on property showed little change at an average NT$90,000 per ping, the company’s statement said.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion