Tue, May 07, 2019 - Page 12 News List

Property transactions in major cities surge 28.1%

‘HAN WAVE’?Kaohsiung led the surge, jumping 48.2 percent to 3,707 units, but opinions diverged on whether the growth momentum is sustainable

By Crystal Hsu  /  Staff reporter

Property transactions soared 28.1 percent year-on-year to 19,100 units last month, as buying interest perked up in the six special municipalities, especially in Kaohsiung, government data showed.

The figures represented the best showing in five years for the same month on the back of a slow, but stable recovery.

Outperforming Taipei, New Taipei City, Taoyuan and Taichung, Kaohsiung saw transactions jump 48.2 percent to 3,707 units, local government data showed.

Kaohsiung Mayor Han Kuo-yu’s (韓國瑜) pro-business strategy sent a positive message to the property market, as evidenced by a continued boom in home sales, said Evertrust Rehouse Co (永慶房屋), Taiwan’s largest broker by number of offices.

“The Han wave not only spurred real demand, but also revived investment in the southern city,” Evertrust spokesman Jay Hsieh (謝志傑) said.

Neighboring Tainan finished second, with a 31 percent gain in housing deals to 2,065, the city’s tallies showed.

Sinyi Realty Inc (信義房屋) said that Tainan’s improvement fell in line with a nationwide property recovery.

The improvement was also evident in central and northern Taiwan. Taipei and New Taipei City posted increases of 25 percent and 22 percent to 2,241 and 4,777 units respectively, government data showed.

Taoyuan reported a 27 percent increase to 3,057 units, while Taichung saw a 19 percent advance to 3,298 units.

Sinyi research manager Tseng Ching-der (曾敬德) said the growth momentum should be sustainable this month, as home sales have shown no signs of slowing.

It takes about one month to process ownership transfers and data for this month would reflect deals from last month, Tseng said.

Taiwan Realty Co (台灣房屋) was less upbeat, saying housing transactions might lose steam in the second half of the year.

As the presidential campaigns gain heat, prospective homebuyers might adopt a wait-and-see attitude until political uncertainty settles in January next year, Taiwan Realty said.

The Democratic Progressive Party has lagged behind potential opposition presidential contenders in most opinion polls.

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