The National Property Administration (NPA) yesterday auctioned a 87.12 ping (287.9m2) plot of land on Roosevelt Road, Sec 3, in Taipei at a record high of NT$7.19 million (US$224,700) per ping, or NT$627 million in total.
The figure marks the highest price per ping in the city’s history of commercial land sales, outstripping a 1,418 ping land in Xinyi District (信義) auctioned for NT$6.98 million per ping in 2006, Evertrust Rehouse Co (永慶房屋) said in a press statement
The price represented a 148 percent premium on the property’s asking price of NT$2.9 million per ping and the plot ratio — the gross floor area by the land area — for the land is as high as 630 percent, NPA data showed.
Evertrust said the land deal attracted as many as 25 bidders because the property was located in the vicinity of Gongguan (公館) and the MRT Taipower Building Station (台電大樓), where a large amount of commercial activity is concentrated.
The land on Roosevelt Road is not only square, but also close to an MRT station, analyst Chiu Tai-hsuan (邱太煊) at Taiwan Realty Co (台灣房屋) said in a separate statement yesterday.
“The first floor can be used for commercial purposes, and if it were to be developed independently, a total of 12 floors can be built on this land,” he said. “But it can also be developed together with adjacent old buildings.”
The NPA auctioned its first batch of national non-public use land yesterday.
The agency plans to sell 18 parcels of land in the upscale Da-an (大安), Zhongzheng (中正) and Zhongshan (中山) districts in Taipei City this year and sold 10 plots of land covering more than 1,000 ping yesterday.
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