Land transactions remained active in the Greater Taipei area last month despite the central bank’s measures to curb property speculation, a survey released yesterday said.
Transactions of plots valued NT$200 million (US$6.3 million) and more in the area totaled NT$506 million last month, the highest for any single month this year after the central bank raised key interest rates by 12.5 basis points and imposed credit-tightening measures on residential properties in June, the survey by Sinyi Realty Co (信義房屋) said. That amount compared with NT$157 million in June and NT$253 million in May.
“The statistics show the tightening measures have had no impact on the commercial properties in the area,” said Michael Wang (王維宏), an associate manager at Sinyi’s global asset management division.
Wang attributed the activity to solid demand and ample liquidity in the market and expects the trend to remain unchanged this month.
Wang said that a commercial property measuring 782 ping (2,580m2) in the prime Xinyi District was sold for NT$900 million last month, a record NT$1.3 million per ping for office space.
“The strong demand for land lent support to optimism that land development will remain healthy in the coming two to three years,” Wang said.
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