The Council for Economic Planning and Development (CEPD) said yesterday that it has decided to launch the first low-cost “modern housing” project in a state-owned plot of land in New Taipei City’s (新北市) Sindian District (新店), which offers surface rights of up to 70 years for low-income families and low-wage earners.
The council said it will start accepting bids from land developers and construction companies to develop the project next year at the earliest, if the draft plan for the project gets the green light from the Executive Yuan, Chen Chih-ming (陳志銘), a senior engineer at the council’s department of urban and housing development, told a media briefing.
Chen said the council reached the decision about the project’s location after meeting with representatives from the National Property Administration, the New Taipei City Government, the Construction and Planning Agency and the Financial Supervisory Commission.
The plot of land owned by the National Property Administration is 200m from Taipei mass rapid transit’s (MRT) Qichang Station. Under the council’s plan, more than 100 apartments, of 10 to 20 ping (33m2 to 66m2) each, would be constructed on this land, Chen said.
“The selling price of the low-cost housing units will be about 60 to 70 percent of market prices,” he added.
Currently, an apartment near the Qichang MRT station costs about NT$450,000 to NT$550,000 per ping, according to data from local real-estate agencies, an indication that a “modern housing” unit may cost about NT$300,000 on average per ping.
The council is scheduled to send the amended draft plan to the Cabinet next week. Once the Cabinet passes the plan, the council will hold series of conferences for discussing the details — such as qualifications for home buyers, mortgage terms and real-estate management and operation — of the project, according to Chen.
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