The land price index in Taipei from October last year to September rose 0.32 percent from the same period a year earlier, with Nangang District (南港) topping the city’s other 11 districts with an increase of 2.16 percent, statistics released on Friday by the Taipei Department of Land Administration showed.
Shilin (士林), Wenshan (文山) and Beitou (北投) districts reported declines, and the index remained flat in Zhongzheng District (中正), while the other districts saw prices rise, the statistics showed.
The price increase in Nangang reflected booming business activity in the area near Nangang Railway Station (南港車站) and Nangang Economic and Trade Park (南港經貿園區), as well as the Taipei City Government’s Eastern District Gateway Project (東區門戶計劃), which has improved infrastructure facilities and propped up land prices, the department said.
The project is beginning to have an effect, particularly in terms of driving growth in its industrial zone, department section chief Pan Yi-ju (潘依茹) told the Formosa TV News.
The city government in 2015 proposed the project to improve the district’s role as a transport hub, and to develop software, biotechnology, music, and cultural and creative industries, as well as the meeting, convention and exhibition facilities in the area.
As its development schedule moves forward, Taiwan Fertilizer Co Ltd (台肥), Goldsun Building Materials Co Ltd (國產建材實業) and Nankang Rubber Tire Corp Ltd (南港輪胎) have held plots and drawn up development plans that involve office buildings in Nangang, market watchers have said.
Datong District (大同) ranked second in the land price index with an increase of 1.75 percent, while Wanhua District (萬華) came in third with 1.34 percent, the statistics showed.
Datong has received a boost from the planned Taipei Twin Towers (台北雙子星) development project, which has raised housing and land prices in the area, Sinyi Realty Inc (信義房屋) researcher Tseng Ching-der (曾進德) said.
In contrast, Beitou was the biggest loser on the land price index, falling 0.55 percent, followed by Wenshan’s 0.31 percent fall and Shilin’s 0.24 percent fall, the statistics showed.
Real-estate brokerages have said the figures show that these districts have less growth potential for land prices due to their geography, which includes mountainous areas.
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