Taiwan Realty Co (台灣房屋) yesterday launched a new brand — Umei Realty (優美地產) — that will focus on China’s market, while the existing brand continues expanding at home.
The expansion comes amid a spate of unfavorable policies that have dampened housing transactions in Taiwan, although housing prices remain steady thanks to low interest rates and ample liquidity.
Taiwan Realty chief executive Kevin Peng (彭培業) said that the company had signed agreements to open 10 franchises, with another 20 expected to be in place by the end of the Lunar New Year (February next year).
“We expect the number of Umei Realty franchises to reach 100 next year,” Peng told a media briefing.
The new brand will be limited to franchise operations, while Taiwan Realty will have both franchise and directly owned offices, Peng said.
Together, the two brands hope to increase the firm’s total number of outlets in the Greater China region to 2,000 in three years, 50 percent of which will be in China, he said.
Starting out as a broker of existing homes in northern Taiwan, Taiwan Realty currently has 400 outlets nationwide.
Peng said he saw huge business potential across the Taiwan Strait although China, like Taiwan, is also trying to curb property speculation. More capital will flow to these real-estate markets as both countries seek to restructure their economy and place more emphasis on domestic demand, Peng said.
“Our ambition is not confined to serving people living in Taiwan, but to reach out to Taiwanese living overseas and Chinese interested in owning properties here,” he said.
Taiwan Realty and Umei Realty will work to strengthen brand awareness and professional know-how, the firm said, as an internal survey showed that brand awareness topped home buyers’ choice of real estate brokers, followed by professional knowledge and efficiency.
Real-estate properties remain the favorite investment options among respondents, the survey said.