Expectations that the government will ink cross-strait economic pacts with China are expected to boost prices of pre-sold property in the greater Taipei area to new highs before the first half of next year, the Chinese-language Housing Monthly reported yesterday.
The average price of pre-sold property in the capital’s most expensive district, Da-an (大安) — which has jumped 12.4 percent quarter-on-quarter to NT$908,000 (US$27,940) per ping (3.3m²) in the third quarter — will soon test the NT$1 million per ping level, the monthly said.
The peak last year in Da-an was NT$828,000 per ping.
RENAI AND DUNHUA
Almost all new upscale housing projects along Renai and Dunhua S and N roads are priced above NT$1 million per ping, the report said.
“The boost from closer trade ties with China will surely push up the momentum of the city’s property market once they are signed,” Nii Tzu-jung (倪子仁), an executive at the monthly, said by telephone yesterday.
As a result of rising prices, 934 residents in the Da-an district moved out last month. The number of properties that changed hands in the district rose from 635 in August to 732 units. That was the biggest jump among Taipei’s 12 districts, realtor Taiwan Realty Co (台灣房屋) said in a press statement, citing Ministry of the Interior figures.
“Residents in the district have a tendency to lock onto gains and sell their properties to investors, who expect property prices in the district to keep climbing,” its statement said.
Da-an prices were followed by pre-sold units in the Dazhi (大直) and Tianmu (天母) areas, where prices were between NT$700,000 and NT$850,000 per ping and may soon top NT$800,000 per ping. Average prices in Neihu District (內湖) may soon exceed NT$700,000 per ping, the report said.
Overall in Taipei, prices of pre-sold units averaged NT$601,000 per ping in the third quarter, up from NT$576,000 per ping in the second quarter, the report said.
TAIPEI COUNTY
In Taipei County, prices of pre-sold properties in Banciao (板橋) and Yonghe (永和) are expected to see the strongest growth, soon exceeding NT$600,000 and NT$500,000 per ping respectively, from the third-quarter average of NT$330,000 and NT$340,000 per ping, the monthly said.
Even in Linkou (林口), which had the lowest prices, the price of new properties was NT$170,000 per ping on average last quarter and could jump 18 percent to more than NT$200,000 per ping, the monthly said.
Meanwhile, the recovery in the property market has helped boost the number of realtor outlets nationwide to a new high of 4,114 compared with a peak last year of 4,138, Evertrust Rehouse Co (永慶房屋) said in a press statement on Tuesday, citing government figures.
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