More than 50 percent of the public expected housing prices in the greater Taipei area to drop in the short and long term following the central bank’s credit tightening measures to curb property speculation in the region, a quarterly survey by Evertrust Rehouse Group (永慶房仲集團) showed yesterday. \nThe survey, conducted between July 1 and July 4 — following the central bank’s hike in its key policy rates on June 24 — said 58 percent of respondents anticipated that home prices in Taipei City would decline in the next three months, while 51 percent said property prices in Taipei County would see a decline in the short term. \n“The percentage is far higher than recorded in other areas. This means that the central bank’s measures to contain soaring housing prices in select cities are effective,” Evertrust general manager Yeh Ling-chi (葉凌棋) said, adding that public expectations of hikes in housing prices in the near term had reversed. \nFrom a long term perspective, 54 percent of homebuyers polled expected real estate prices in Taipei City to edge down in the year to come, with 50 percent saying that the prices would decline in Taipei County as well, the survey said. \nNevertheless, Yeh said that respondents were upbeat about the property market in central and southern Taiwan and expected housing prices in those areas to rise in the following year because of the recently inked trade pact with China. \nNearly 35 percent of homebuyers surveyed said they would purchase homes in the second half of this year, compared with 42 percent recorded in the first quarter, while 40 percent said the first half of next year would be a better time to enter the market, up from 25 percent last registered, the survey said. \n“This indicates that the current buying momentum in the real estate market remains [positive]. As soon as property prices decline, homebuyers will enter the market,” Yeh said, adding home prices are expected to correct themselves for one to two quarters following the central bank’s credit tightening.
POOR INTERNAL CONTROLS: Insurance Bureau Director-General Shih Chiung-hwa said the company is expected to get back on track while its chairman is suspended The Financial Supervisory Commission (FSC) yesterday fined Shin Kong Life Insurance Co (新光人壽) NT$27.6 million (US$939,415) for a reckless investment that endangered its solvency, and suspended its chairman Eugene Wu (吳東進) for poor supervision. The penalty is the second-highest in a single case after Nan Shan Life Insurance Co (南山人壽) was fined NT$30 million in September last year and its chairman Du Ying-tzyong (杜英宗) suspended for two years, the commission said. In three rounds of special and regular examinations conducted since last year, the commission found that Shin Kong Life had given too much power to an asset and liability management committee
Nano-X Imaging Ltd, a start-up founded by Israeli investor Ran Poliakine, is joining forces with South Korean chipmaker SK Hynix Inc to build a machine that could disrupt a century-old X-ray industry. Valued at about US$2 billion after listing on the NASDAQ last month, Nano-X is seeking to transform a multibillion-dollar industry that has essentially relied on the same technology since Nobel Prize in Physics winner Wilhelm Roentgen discovered X-rays in the late 19th century. Nano-X’s device uses semiconductors instead of metal filaments to generate X-rays. The backing of SK Hynix, the world’s second-largest maker of memory chips, is a boost for
Continental AG, which makes control units for Daimler AG cars, cannot pursue antitrust claims against a group of patent owners, including Qualcomm Inc, which are seeking royalties on telecommunications technology, a federal judge in Texas ruled. Avanci LLC, a licensing pool formed by Qualcomm, Nokia Oyj, Sharp Corp and other owners of patents on technology standards, is not breaching antitrust laws when it negotiates license agreements with automakers rather than the component makers, Barbara Lynn, chief district judge for the Northern District of Texas, said in dismissing the suit in a decision posted on Friday. The licensing group charges US$15 per vehicle
Sony Corp has cut its estimated Play Station 5 (PS5) production for this fiscal year by 4 million units, down to about 11 million, following production issues with its custom-designed system-on-chip (SOC) for the new console, people familiar with the matter said. The Tokyo-based electronics giant in July boosted orders with suppliers in anticipation of heightened demand for gaming in the holiday season and beyond, as people spend more time at home due to the COVID-19 pandemic. However, the company has come up against manufacturing issues, such as production yields as low as 50 percent for its SOC, which have cut into