The central bank’s interest rate hikes announced on Thursday failed to cool off buying sprees at an auction yesterday organized by Taipei County Government to release 24 parcels of land in the county’s to-be-developed subcenter of Sinjhuang (新莊), a local realtor said.
The 24 parcels were sold for a total of NT$3.445 billion (US$107.6 million), or a combined premium of 124.5 percent from its total base prices at NT$1.535 billion, Evertrust Rehouse Co (永慶房屋) said.
The highest unit price closed at a record-high NT$1.59 million per ping (3.306m²), the realtor said in a press release, adding that more than 300 bidders took part in yesterday’s auctions.
Three of those 24 plots of land were sold for more than NT$1.5 million per ping while another five of them were sold for NT$1.4 million per ping, Taiwan Realty Co (台灣房屋) said in another press release.
With land prices rising, Taiwan Realty’s analyst Chiu Tai-hsuan (邱太煊) yesterday forecast to-be-built housing projects in the city were likely to jump to NT$550,000 per ping, compared to the current price of about NT$420,000 per ping nearby.
He said the county government’s low pricing strategy contributed to yesterday’s auction success.
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