The National Property Administration (NPA) yesterday auctioned a 121.3 ping (401m²) plot of land on Jianguo S Road in Taipei for NT$6.02 million (US$187,820) per ping, or a total of NT$731.11 million.
The price represented a 170.31 percent premium on the property’s asking price of NT$2.23 million per ping and the plot ratio — the gross floor area by land area — for the land is as high as 400 percent, NPA data showed.
Yesterday’s winning bid was the second-highest price of land per ping in the history of residential land sales in the city, behind a 116.16 ping piece of land in Zhongzheng District (中正) auctioned for NT$6.79 million per ping on Jan. 28, Evertrust Rehouse Co (永慶房屋) said in a statement.
PHOTO: CHIEN JUNG-FONG, TAIPEI TIMES
GOOD LOCATION
Huang Cheng-fu (黃增福), an assistant manager with Evertrust Rehouse, said the location was good, as the plot is close to Da-an MRT station on the Xinyi Line, which is under construction, as well as several top schools.
The auction attracted 12 bidders and was won by a woman surnamed Chiu (邱), Evertrust said.
The NPA was auctioning the first batch of 12 state-owned pieces of land derived from former military dependents’ villages. Six of those plots were sold yesterday.
“When a thing is scarce, it is precious. In Taipei City, when a piece of land is sold, it means one less piece of land is available,” Huang said.
“The possibility that land prices will continue to set record highs has increased,” Huang said.
URBAN RENEWAL
Meanwhile, analyst Chiu Tai-hsuan (邱太火宣) of Taiwan Realty Co (台灣房屋) said yesterday that developers take into consideration the redevelopment value of land through urban renewal projects when they bid for plots of land.
“Taipei City is keen on urban renewal projects and that’s one of the main reasons why housing prices in the city have remained high,” Chiu said.
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