Evertrust Rehouse Co (永慶房屋), the nation’s largest real-estate agency by number of outlets, aims to increase its revenue by a high single-digit percentage next year on the back of a larger service network and greater brand benefits, senior executives said yesterday.
Revenue is set to exceed NT$580 billion (US$19.3 billion) by the end of this year, rising 10 percent from last year, and may reach NT$630 billion next year, Evertrust president Benson Liao (廖本勝) said.
The property broker, which owns three brands — Yung Ching Realty Co (永慶), U-Trust Realty Co (有巢氏) and Taiching Realty Co (台慶房屋) — expects home transactions to stay flat next year from between 365,000 and 370,000 deals this year, but is confident the group can outperform its rivals.
Evertrust spokesman and researcher Andy Huang (黃舒衛) said the confidence was mainly due to the company’s plans to expand its number of outlets by more than 20 percent to 1,250 next year, from 1,030 at the end of last month.
“Economic uncertainty makes expansion easier and less expensive,” Huang said by telephone, as some brokers may choose to exit the market.
Evertrust plans to hire 5,000 employees next year, in line with expectations of a larger service area and market share, Huang said.
First-time home buyers will continue to underpin the market next year after driving a majority of transactions this year, the analyst said, adding that small and relatively affordable apartments in suburban areas in Greater Taipei and other municipalities will remain mainstream products.
The trend accounts for active sales in such districts of Tamsui (淡水), Linkou (林口) and Sanchong (三重) in New Taipei City (新北市), Evertrust said.
Housing prices are likely to consolidate in Taipei after steep hikes in recent years, but apartments in Songshan District (松山) may prove the exception, showing a marked increase thanks to work on the MRT’s Songshan Line, Huang said.
Storefronts may be another bright spot next year due to strong demand for retail space in locations frequented by Chinese tourists, the analyst said.
In terms of transaction volume, the first half would fare stronger than the second half as prospective buyers may take a wait-and-see attitude toward the seven-in-one elections late next year.
“Increasing unaffordability tops the list of public complaints and different candidates may make promises to address the issue on the campaign trail,” Huang said.
Policymakers have suggested taxing second homes and overall holding costs to help rein in soaring home prices.
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,
ELECTRIC FARMLAND: TSMC’s proposal to clear 230 hectares of reforested land for what would become Taiwan’s largest photovoltaic solar farm has generated concerns New rules curbing solar farms built on agricultural land sparked fierce debate at a packed public hearing at the Legislative Yuan yesterday, with industry representatives saying that the new restrictions would endanger President Tsai Ing-wen’s (蔡英文) green energy goals, while agricultural officials emphasized the importance of protecting farmers and the environment. The Tsai administration has set a target to generate 20 percent of the nation’s power from renewable sources by 2025, by which time it also aims to install 20 gigawatts (GW) of solar power, including 6GW from rooftop solar systems and 14GW from ground-mounted solar farms. Although rooftop solar systems are
‘SENSITIVE MARKETS’: The previously unannounced project would involve the company handing over control of data to a third party to sidestep privacy concerns Google has abandoned plans to offer a major new cloud service in China and other politically sensitive countries due in part to concerns over geopolitical tensions and the COVID-19 pandemic, two employees familiar with the matter said, revealing the challenges for US tech giants to secure business in those markets. In May, the search giant shut down the initiative, known as “Isolated Region” and which sought to address nations’ desires to control data within their borders, the employees said. The action was considered a “massive strategy shift,” said one of the employees, who added that Isolated Region had involved hundreds of employees
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday posted monthly revenue that suggested second-quarter sales surpassed analysts’ estimates, underscoring how its technological lead is helping the chipmaker weather the COVID-19 pandemic and US sanctions on its second-biggest customer Huawei Technologies Co (華為). Apple Inc’s main iPhone chipmaker posted sales of NT$120.88 billion (US$4.08 billion) for last month, up 40.8 percent year-on-year and bringing its revenue for the second quarter to NT$310.7 billion, beating the NT$308.8 billion analysts expected on average. TSMC, a barometer for the industry thanks to its heft in the global supply chain, had previously lowered its revenue outlook for this