The value of new residential property listings is expected to grow about 5 percent next year, General Chamber of Commerce (全國商業總會) chairman Lai Cheng-i (賴正鎰) said on Wednesday.
The value of new home listings next year is predicted to total about NT$1.34 trillion (US$43.5 billion), up 5.5 percent year-on-year, said Lai, who is also chairman of Shining Building Business Co (鄉林建設).
The value of listings grew more than 40 percent to NT$1.27 trillion this year for 85,750 units, Lai said.
That was the highest value since 2008, when the great financial crisis sent ripples through the financial and property markets. and even topped a goal of NT$900 billion that Lai set at the end of last year.
While growth in listings is expected to moderate next year, the property market is expected to see stable expansion, Lai said.
There are signs that sales momentum for large and medium-sized homes started to accelerate in the second half of this year, indicating growing confidence, Lai said.
Home prices in Kaohsiung have grown at a faster pace than other areas over the past few days, after the inauguration on Tuesday of Kaohsiung Mayor Han Kuo-yu (韓國瑜), who is perceived as being pro-business.
Ahead of the 2020 presidential election, the government is expected to implement measures to boost the economy to gain support, while consumer prices are expected to remain stable amid falling international crude oil prices, Lai said.
Such factors would not only benefit the overall economy, but also the property market, he added.
Commenting on the US-China trade dispute, Lai said he expects Beijing to prioritize cooperation instead of confrontation to stabilize the global economy.
China would also continue to ease its monetary policy, keep the value of the yuan low and expand domestic demand, which would benefit its economy and that of the world, he said.
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