A monthly economic confidence survey conducted by a financial holding firm found that interest in buying homes declined last month for the fourth consecutive month, an indication that government measures to cool down the overheated property market are taking hold.
Three-fourths of respondents to last month’s survey by Cathay Financial Holding Co (國泰金控) said it was not an opportune time to buy property and only 10 percent said they were willing to buy houses at present.
In recent months, the central bank has adopted selective credit tightening measures in the greater Taipei area, where property market prices have risen at a much faster clip than in the rest of the country.
It further signaled its intentions to slow down housing price increases by raising the benchmark interest rate last month.
The survey also found that confidence in the economic rebound fell this month for the second consecutive month after peaking in May, when more than 60 percent of respondents said the economy was recovering from the global financial crisis.
Worries of a slowing economic rebound reflected concerns related to the job market, where 30.4 percent of those polled said the job market was tighter than it was in the first half of the year, compared with 28.9 percent who said finding a job was easier.
About a third of respondents expected the job market to be even tougher in the second half of the year.
The survey results were based on 10,696 valid questionnaires.
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