Tue, Dec 18, 2012 - Page 13 News List

Taipei house transactions fall by nearly 30 percent

Staff writer, with CNA

Housing transactions in Taipei declined by nearly 30 percent between September last year and August this year compared with a year earlier due to the implementation of domestic policies and global economic concerns, the city’s Department of Land said yesterday.

A total of 38,527 transactions were recorded during the period, a 29 percent decrease from 54,509 between September 2010 and August last year, statistics show.

Chen Shyi-jen (陳錫禎), head of the land department, said the situation was a result of the implementation of a luxury tax on home sales from June 1 last year, increasing interest rates for loans, and the debt woes of Europe and the US.

Since the second quarter of this year, real-estate transactions grew by 39.03 percent from the first quarter because real estate was seen as the best investment option to fight inflation in response to rising fuel and electricity prices.

In the third quarter, housing sales dropped by 9.41 percent quarter-on-quarter ahead of the launch of a new database in October in which true market prices of property transactions are registered.

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