Tue, Dec 04, 2018 - Page 12 News List

Housing transactions slide on vote

By Crystal Hsu  /  Staff reporter

The number of housing transactions last month totaled 18,505 units in the six special municipalities, a 2.8 percent decline from a month earlier, as uncertainty over the elections of local officials late last month drove buyers to the sidelines, real-estate brokers said yesterday.

Taipei reported the steepest decline at 13 percent to 2,165 deals last month, as electoral competition was the hottest there, Evertrust Rehouse Co (永慶房屋) said in a statement.

Judicial authorities are recounting the ballots in the city’s mayoral race at the request of Chinese Nationalist Party (KMT) candidate Ting Shou-chung (丁守中), who has refused to concede, saying that electoral irregularities were responsible for his narrow defeat.

Taichung also posted a retreat of 8.1 percent to 3,716 units in transactions, as potential buyers preferred to wait for the election results, Evertrust said.

KMT Taichung mayor-elect Lu Shiow-yen (盧秀燕) pledged on the campaign trail to scrap expensive railway extension projects in favor of a mass rapid transit system.

Lu’s electoral victory lent support to the wait-and-see attitude that gave potential buyers more time to make purchase decisions, Evertrust said.

Meanwhile, the number of home deals declined 9.8 percent to 2,881 units in Kaohsiung, where voters gave control of the city to the KMT for the first time in 20 years after it campaigned on an economy-first platform.

Transactions in New Taipei City, Taoyuan and Tainan picked up 5.5 percent, 3.7 percent and 3.7 percent respectively, as frontrunners carried the elections in line with pre-election polls, analysts said.

The market might see a modest and gradual recovery this month as political uncertainty subsides, said Sinyi Realty Inc (信義), the nation’s only publicly listed real-estate broker.

Total transactions in the six major cities are expected to reach 280,000 deals this year, the highest in three years, amid a stable economy, Sinyi said.

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