The fight over land in the greater Taipei area among land developers and construction companies will cause further price hikes for well-located properties, contrary to what the central bank hopes to see, executives of real estate consultancy DTZ Debenham Tie Leung (戴德梁行) said yesterday.
“The central bank’s efforts to contain property prices [in Taipei City and Taipei County] only work among small-sized property investors, never with big-time developers,” Charlie Yang (楊長達), director of real estate appraisal for DTZ, told a media briefing.
20 percent jump
For example, among land deals in Taipei County’s to-be-developed subcenter of Sinjhuang (新莊) for the first half of this year, the closing unit price for both residential and commercial land has jumped by more than 20 percent on a quarterly basis, he said.
In Taipei City, plots of residential land auctioned off in the first quarter closed between NT$950,000 and NT$1.2 million (US$37,319) per ping (3.3m²), which further jumped to between NT$1.3 million and NT$1.5 million per ping in the second quarter, he said.
Such record high prices will translate into a unit price of up to NT$600,000 per ping in the satellite city for some to-be-built housing projects, he said.
If the pace of land price hikes continues, commercial land in Sinjhuang at future auctions will possibly net up to NT$2 million per ping, up from its range of between NT$1.3 million and NT$1.4 million per ping in the first quarter, he said.
Yang forecast stiff competition at an auction to be organized by the Taipei County Government next Friday to liquidate 12 parcels of residential land in Sinjhuang.
The 12 plots of land, totaling 7,887 ping with a combined asking price of NT$7 billion, are likely to close for more than NT$14 billion, or an average unit price of NT$1.8 million per ping, he said.
The realtor’s statistics show that in the first half of the year, plots of land with a total value of NT$56.9 billion have been auctioned off nationwide, close to last year’s total of NT$57.5 billion.
The fight for land in Sinjhuang has showed no signs of easing, while that in Taipei County’s Linkou (林口) is also building up steam, Yang said.
The agency’s statistics also showed that a total of NT$53 billion in commercial properties had changed hand as of Tuesday, which Yang said is still far from last year’s full-year value of NT$100.3 billion.
Its statistics also found that the monthly rental of Grade A offices in Taipei saw flat growth to average NT$2,320 per ping in the second quarter, with the vacancy rate climbing slightly to 12.1 percent.
DEVELOPING TALENT: The electronics contractor is looking to recruit people to work in core tech fields and emerging industries like electric cars and robotics Hon Hai Precision Industry Co (鴻海精密), the world’s largest contract electronics maker, has launched a recruitment drive, offering a monthly salary of no less than NT$45,000 (US$1,485) to university graduates. For those with a master’s degree, the starting pay would be NT$52,000 per month at the minimum, while doctorate degree holders would receive at least NT$60,000 a month, Hon Hai said a statement issued early this week. The latest recruitment drive is aimed at attracting talent in core technology fields — artificial intelligence, semiconductors and next-generation mobile communications — and emerging industries — electric vehicles, digital healthcare and robotics, the
MRT TRAVEL FALLS: In February, ridership on the Taipei MRT System fell 8.96 percent from an average of 2.01 million per day in January Scooter sales jumped 13 percent last month as more commuters turned to two-wheelers to avoid public transportation amid the COVID-19 pandemic, the latest statistics showed. Sales expanded to 74,493 units last month, compared with 65,913 units in February, statistics released on Wednesday by Kwang Yang Motor Co (光陽工業) and the Ministry of Transportation and Communications showed. In the first quarter, aggregate sales slid 0.51 percent year-over-year to 186,627 units, from 187,580 units, data showed. Kwang Yang, the nation’s biggest scooter manufacturer, continued to lead the market by selling 24,136 vehicles last month, growing 6.12 percent from 20,785 units in the previous month, while
Asustek Computer Inc (華碩), the nation’s leading PC vendor, yesterday launched its first dual-screen gaming laptop powered by Intel Corp’s latest central processing units (CPUs). The PC manufacturer’s announcement closely followed the US chipmaker’s unveiling of its 10th Generation Core H-series, the fastest commercial mobile processors with speeds of up to 5 gigahertz. Although Asustek’s Zephyrus Duo 15, the highlight of its Republic of Gamers line, is not the company’s first laptop with two screens, it is its first designed specifically for gaming. Nestled between the primary display panel and the keyboard, the secondary display, which Asustek calls the ScreenPad Plus, is angled
NO ILL EFFECT: Last month’s data mainly reflected deals made in February, when the spread of COVID-19 was still relatively mild in Taiwan, housing brokers said Housing transactions in the six special municipalities totaled 19,824 units last month, up 7.8 percent from a year earlier, brokers said, citing government data. Last month’s data mainly reflected deals made in February, when the pinch of the COVID-19 pandemic was not yet evident, they said. Taoyuan posted the largest improvement, with housing transactions soaring 36.6 percent year-on-year to 3,676 units, local government data showed. Taiwan Realty Co (台灣房屋) attributed the pickup to the completion of two presale residential projects in the municipality. Houses in Taoyuan have increasingly gained in popularity in the past few year years due to relatively affordable home prices and