Kevin Peng (彭培業), CEO of Taiwan Realty (台灣房屋), forecast an up to 50 percent hike in commercial property prices in Taipei City’s seven major business districts after Chinese investors are allowed to invest.
Peng was most optimistic about commercial properties, including office buildings and storefronts along Dunhua N Road, which currently sell for about NT$700,000 per ping or rent for NT$4,000 per ping.
With the support of office workers in the area and the residential crowd, “the storefronts may see a hike of between 30 percent and 50 percent in the next three years,” Peng told an outlook briefing on Wednesday.
The upscale Xinyi District (信義), where several big-name department stores and shopping malls are located, may be competitive in attracting businesses, but storefronts nearby hardly benefit as crowds of shoppers are concentrated on the main street, Peng said.
Peng predicted a small price hike of between 5 percent and 10 percent in three years for the district.
RSS