New housing loans from five leading domestic banks increased 7.4 percent last month from the previous month following two consecutive months of decline, according to the latest central bank statistics.
The increase might imply a recovery in the local housing market with potential homebuyers putting aside concerns over the government’s real-estate price registration policy that was launched on Aug. 1, according to the central bank.
The five banks — Bank of Taiwan (台灣銀行), Taiwan Cooperative Bank (合作金庫銀行), Land Bank of Taiwan (土地銀行), Hua Nan Commercial Bank (華南商業銀行) and First Commercial Bank (第一銀行) — made NT$40.14 billion (US$1.38 billion) of new housing loans last month compared with the NT$37.38 billion the lenders made in new housing loans in September.
The average interest rate on the housing loans was 1.896 percent last month, compared with 1.897 percent in the previous month.
Data compiled by the Construction and Planning Agency showed transfer of ownership of houses totaled 2,890 in Taipei City last month, up 3.36 percent from 2,796 in September, while transfers in New Taipei City (新北市) rose 30.58 percent to 6,803 from 5,210 a month earlier.
On an annual basis, transfer of ownership of houses in Taipei City was down 11.2 percent. In New Taipei City it was up 27.5 percent.