Mon, Dec 04, 2017 - Page 15 News List

Property sales rally on back of year-end demand

FRESH START:Taichung recorded the highest growth among the big municipalities at 39.6%, while New Taipei City posted the highest sales amount at 4,384 transactions

Staff writer, with CNA

Residential and commercial property transactions last month rebounded more than 10 percent from October on peak season effects, data compiled by local governments showed.

Transactions of homes, shops and offices in the nation’s six special municipalities rose 13 percent to 18,841 units from October, when housing sales fell 12 percent from a month earlier, the data showed.

Market demand tends to be strong at the end of the year, as consumers like to buy new houses before the new year, Taiwan Realty Co (台灣房屋) spokesperson Charlene Chang (張旭嵐) said.

Transactions also increased, because those who put property up for sale were willing to cut prices in a bid to strike quick year-end deals, Chang said.

The number of transactions bounced back as developers launched new housing projects to boost supply after prices of many second-hand homes fell, National Realty Co (全國不動產) head of research Chang Ching-yun said.

Taichung housing sales hit 3,775 units, soaring 39.6 percent month-on-month, the largest growth among the six areas and 21.1 percent higher than the same period last year, the data showed.

New Taipei City recorded a 7.2 percent month-on-month increase in transactions with 4,384 units, the most among the six special municipalities, while Taipei’s transactions grew 22.4 percent monthly to 2,060 units after prices in certain districts fell 10 to 20 percent.

Transactions in Taoyuan rose 38.8 percent from a month earlier to 3,752 units, while sales in Tainan and Kaohsiung grew 22 percent and 22.9 percent to 1,794 units and 3,076 units respectively, the data showed.

For the whole of this year, transactions nationwide are expected to reach up to 280,000, compared with 245,396 last year, Taiwan Reality said.

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