Mon, Jan 28, 2019 - Page 16 News List

Home prices rise slightly in fourth quarter

STABLE PROPERTY MARKET:It was the first time since the second half of 2014 that Taiwan’s home prices have increased year-on-year, a research manager said

Staff writer, with CNA

Prices of newly built homes and pre-sale projects in cities and counties in northern Taiwan generally increased slightly in the fourth quarter of last year, indicating a stable property market in those areas, the Chinese-language Housing Monthly (住展雜誌) said.

Data compiled by the magazine covered Taipei, New Taipei City, Taoyuan, Keelung and Hsinchu City, and the counties of Hsinchu and Yilan, which account for more than 50 percent of the total residential and commercial property transactions in the country.

Home prices in Taipei averaged NT$851,000 (US$27,607) per ping (3.3m2), up 2.28 percent from a quarter earlier and 2.16 percent from a year earlier.

It was the first time that home prices in Taiwan have recorded year-on-year growth since the second half of 2014, Housing Monthly research manager Ho Shih-chang (何世昌) said in a statement on Thursday last week.

Prices of newly built homes and units in pre-sale projects moved higher in Taipei in the fourth quarter, Ho said.

In New Taipei City, home prices averaged NT$385,000 per ping, up 1.85 percent quarter-on-quarter, but little changed from a year earlier, the data showed.

The quarter-on-quarter price growth in certain districts, such as Banciao (板橋), Tucheng (土城), Luzhou (蘆洲), Jhonghe (中和), Yonghe (永和) and Tamsui (淡水), appeared more apparent last quarter, Ho said.

Home prices in Taoyuan hit NT$226,000 per ping on average, up 2.73 percent quarterly, but down 0.44 percent annually, with the magazine attributing the quarterly price increase to a decline in the number of homes put up for sale.

In Keelung, home prices averaged NT$209,000 per ping, a quarterly increase of 1.95 percent and an annual increase of 6.63 percent, while those in Hsinchu reached NT$229,000 per ping, up 1.73 percent from a quarter earlier, but unchanged from a year earlier.

Yilan was the only area in northern Taiwan to see home prices fall quarterly and annually to average NT$212,000 per ping, down 0.9 percent from a quarter earlier and 7.8 percent from a year earlier.

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