The housing market may trend down in the near future in terms of transaction units and prices, as more people become familiar with the government’s real-estate transaction price disclosure system, an economist said yesterday.
The comment from Chang Chin-oh (張金鶚), a land economics professor at National Chengchi University, came after the Ministry of the Interior’s latest data showed 47,174 housing units changed hands in the July-to-September period, down 11.8 percent from the second quarter.
On an annual basis, the figure represented a 0.8 percent increase in the third quarter, the data showed.
The ministry’s Construction and Planning Agency, which disclosed the data as part of a quarterly survey of the housing market, said the quarterly decline was a result of potential buyers maintaining a wait-and-see attitude after the government’s real-price registration measure took effect on Aug. 1.
Home prices averaged NT$9.25 million (US$317,052) a unit in the third quarter, rising 0.28 percent from the second quarter and 9.1 percent higher than the third quarter of last year.
“The housing market showed a high-level consolidation in the third quarter,” Chang, who conducted the survey for the commission, said by telephone.
However, Chang expected sentiment in the property market to drop in the fourth quarter and again next year, on the back of slowing demand from speculative investors.
The real-price registration system may raise price transparency of the housing market, stopping speculators from boosting prices intentionally, he said.
The agency’s latest data also showed that home prices amounted to 9.1 times an individual household income during the July-and-September period, the highest level in history, an indication that the average working-class family still had a hard time purchasing their own home.
In addition, the average mortgage burden constituted 35.3 percent of a buyer’s payroll in the third quarter, up 1.8 percentage points from the previous quarter and 2.2 percentage points from a year ago, the survey showed.
The affordability readings in Taipei remained heaviest during July-and-September period, with prices standing at 14 times annual household income and mortgages making up 51.4 percent of take-home salaries, the survey’s statistics showed.
The agency released the survey during its daily routine press conference, instead of holding an independent press meeting as it has done previously.
Chang also did not preside over the press conference as he had been done for previous survey releases, raising the question of whether the agency is unhappy with him.
Earlier this month, Chang criticized the agency’s director-general, Yeh Shi-wen (葉世文), for encouraging the public to invest in real estate, despite the potential investment risks during an economic downturn.
However, the agency said the press conference changes had nothing to do with Chang’s criticism.
Chang said it was unfortunate the agency did not let him explain and analyze the report directly, thereby preventing the public from receiving clear information.
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