The nation’s major real-estate brokers reported better transactions this month than last month, when two typhoons and the Mid-Autumn Festival holiday decreased the number of working days and dampened buying interest.
However, the market remains soft and brokers said they expect weak sales for the rest of this quarter — the traditional high sales season — as buyers wait on the sidelines in expectations of price reductions.
Taiwan Realty Co (台灣房屋) posted an 8.3 percent month-on-month increase in property transactions, driven by self-occupancy needs, the broker said.
“The pickup is most evident in Taoyuan and Taichung, where 10-year-old homes outperformed other properties because they are relatively affordable and necessitate low renovation costs,” Taiwan Realty spokeswoman Charlene Chang (張旭嵐) said in a statement.
Sellers in those areas were prepared to be flexible over price, lending support to a monthly upswing of 18.6 percent in Taoyuan and 14.6 percent in Taichung, the broker said.
H&B Realty Co (住商不動產), the nation’s largest broker by number of franchises, said property transactions across the nation increased 6.8 percent month-on-month.
Home deals in New Taipei City and Taoyuan advanced by 22.4 percent and 19.9 percent respectively, H&B head researcher Jessica Hsu (徐佳馨) said.
The improvement extended to other municipalities at a milder pace, Hsu said, adding that Tainan was the only exception, posting a monthly decline of 13 percent.
Hsu attributed Tainan’s bleak showing to the local government’s plans to raise home sales taxes on older houses, in a bid to curb speculation.
Sinyi Realty Inc (信義房屋), the nation’s only listed broker, said that property transactions gained 10 percent this month from last month, and were flat year-on-year.
Taipei and New Taipei City led the monthly rebound with an increase of 11.3 percent and 21.9 percent respectively, research manager Tseng Ching-der (曾敬德) said.
A low base contributed to the rebound and prospective buyers are generally reluctant to chase prices, suggesting a need on the part of sellers to make concessions to facilitate transactions, Tseng said.
Evertrust Rehouse Co (永慶房屋), Taiwan’s largest broker by number of offices, said the market is consolidating with the number of transactions stabilizing in the north, but shrinking in the south.
Property deals increased 16 percent in Taipei and 8 percent in New Taipei City, Evertrust said, adding that the uptick was 6 percent in Hsinchu and 1 percent in Taoyuan.
Transactions declined 11 percent in Taichung, 5 percent in Tainan and 8 percent in Kaohsiung, Evertrust spokesman Lin Tai-lung (林泰隆) said.
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