Tue, Nov 06, 2018 - Page 11 News List

New housing developments rise amid stable economy

By Crystal Hsu  /  Staff reporter

Builders and developers last quarter launched NT$360.3 billion (US$11.71 billion) of presale and newly completed housing projects amid a stable economy, Cathay Real Estate Development Co (國泰建設) said in a survey released last week.

The figure rose 28.5 percent from the second quarter and more than doubled from a year earlier.

Continued economic expansion and an accommodative monetary policy lent support to the increase, according to the survey, which was conducted by National Chengchi University’s Taiwan Real Estate Research Center (台灣房地產中心).

Developers and builders were also encouraged by the government’s support for urban renewal projects and reverse mortgages, but ongoing volatility in global stock markets, and the trade row between the US and China sent negative messages, the survey said.

New housing prices were NT$253,000 per ping (3.3m2) nationwide, slipping 0.77 percent from three months earlier, the survey showed.

Compared with a year earlier, housing prices continued to decline in Taipei, but picked up elsewhere in the nation, the survey showed.

The 30-day sales rate fell 1.49 percentage points to 12.89 percent, while scope for bargaining rose by the same amount to 15.03 percent, it said.

Average prices for new housing projects in Taipei stood at NT$787,800 per ping and NT$383,700 per ping in New Taipei City, it said.

New housing rose 3.93 percent from three months earlier to NT$218,000 per ping in Taichung and rose 2.08 percent to NT$187,600 per ping in Tainan, it said.

Average prices dropped 8.28 percent quarterly to NT$194,000 per ping in Kaohsiung and fell by 6.41 percent to NT$219,700 per ping in Taoyuan and Hsinchu, it said.

Relatively small and affordable apartments continued to be the mainstream products as family sizes shrink, it said.

The decline in birthrate and the rising number of elderly people would shape housing products in the long term, the center said.

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