Fueled by the anticipated signing of a Taiwan-China trade deal in the second half of this year, housing prices in northern Taiwan are expected to continue soaring in the coming months, a property expert said yesterday.
Nii Tzu-jung (倪子仁), an executive at the Chinese-language Housing Monthly, said the housing market in northern Taiwan would remain bullish in the second half of the year, pushed up by the signing of an economic cooperation framework agreement (ECFA) and increased difficulties in land acquisitions.
The misery index for prospective home buyers in northern regions, particularly in Taipei City and Taipei County, is set to keep on rising, he said, adding that “land and property prices will not reverse any time soon.”
Housing Monthly reported that house prices in 10 of the administrative areas in Taiwan’s north have climbed to historic levels.
Among Taipei City’s 12 districts, house prices in four of them — Wanhua (萬華), Beitou (北投), Nangang (南港) and Wenshan (文山) — have surged to new highs as new projects have hit the market.
The Zenith, a luxury housing project recently launched by Huaku Development Co (華固建設) in the Nangang district, fetches nearly NT$1 million (US$31,500) per ping (3.3m²) — the highest residential property price for that district in eastern Taipei.
Huaku, a listed company on the Taiwan Stock Exchange, said the project sold out in just 10 days. Property and real estate prices in Nangang have more than doubled in recent years thanks to its hub location for several transport networks.
In the suburban Wenshan and Beitou districts, housing prices have also fetched a new high of NT$800,000 per ping in recent weeks, leaving market dealers flabbergasted.
In recent months, housing and land prices in Banciao, Zhonghe, Yunghe and Xindian in Taipei County have also climbed markedly, in part propped up by the booming property market in neighboring Taipei City.
“A comparison effect in housing prices between Taipei City and Taipei County has emerged,” Nii said.
In the area of Banciao, where the Taipei County Government is based, residential property prices have also fetched a new high of NT$850,000 per ping — heralding fiercer competition in the special district.
Even in Linkou, an area where housing prices have remained lower because of over-supply, a new high of NT$400,000 per ping has been seen. Analysts, however, are cautious about whether local housing prices will stay at the current high level. Recent sales figures are key indicators to predict future trends, they noted.
In Hsinchu City, 85km south of Taipei, Huaku has also launched a 25-floor luxury housing project at the Hsinchu Science Park (新竹科學園區), at a record-breaking NT$480,000 per ping.
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
‘SENSITIVE MARKETS’: The previously unannounced project would involve the company handing over control of data to a third party to sidestep privacy concerns Google has abandoned plans to offer a major new cloud service in China and other politically sensitive countries due in part to concerns over geopolitical tensions and the COVID-19 pandemic, two employees familiar with the matter said, revealing the challenges for US tech giants to secure business in those markets. In May, the search giant shut down the initiative, known as “Isolated Region” and which sought to address nations’ desires to control data within their borders, the employees said. The action was considered a “massive strategy shift,” said one of the employees, who added that Isolated Region had involved hundreds of employees
GOGOROS TO GO: The scooter maker’s CEO said that the electric vehicles ‘are the perfect complement to a program designed to stimulate the Taiwanese economy’ Minister of Economic Affairs Wang Mei-hua (王美花) yesterday announced a draw to encourage people to claim their Triple Stimulus Vouchers digitally. The prizes include movie tickets and 25 electric scooters donated by Gogoro Inc (睿能創意), Wang said. The Ministry of Economic Affairs said that it would hold a scooter draw every day for the next 10 days, beginning yesterday, after which there would be a draw every week for 15 weeks. The first winner was a Taiwan Cooperative Bank (合庫銀行) credit card user, the ministry said. The benefits of claiming the vouchers digitally extend beyond the draws, with many businesses offering special deals for