Home price differences between potential sellers and buyers and the length of time to complete transactions dropped to a six-month low last month, a further sign of recovery in the nation’s housing market, real-estate brokers said.
Both sales price reductions and time to complete transactions, two indicators used to gauge the health of the housing market, showed continued improvement nationwide last month, with the trend increasingly clear further south, said H&B Realty Co (住商不動產), Taiwan’s largest broker by number of franchises.
The difference between asking and selling price averaged 15.6 percent last month in Taipei City, down from 17.3 percent in February, while it took 65.2 days on average to sell a home, down from 72.4 days, the H&B report said.
It took 53 days to close a deal in Greater Tainan and 58 days in Greater Kaohsiung, with price discrepancies standing at 14.7 percent and 15 percent respectively, the report said.
Price reductions narrowed from 18.3 percent in February to 15.1 percent in March in New Taipei City (新北市), where it took on average 54 days to sell a house, according to the report.
H&B head researcher Jessica Hsu (徐佳馨) attributed the pickup to stronger buying interest and more reasonable asking prices.
Two and three-bedroom homes priced at under NT$10 million (US$330,000) accounted for most of the transactions, Hsu said.
“It is hard to find such properties at this price in Taipei City,” Hsu said. “Which explains why transactions were more active elsewhere in the country last month.”
Chinatrust Real Estate Co (中信房屋) reached similar conclusions.
Home transfers remained below the 3,000-unit benchmark in the capital last month, but gained over 50 percent in New Taipei City and Greater Kaohsiung, compared with February, Chinatrust Real Estate vice chairman Richard Liu (劉天仁) said.
Affordability and strengthening infrastructure underpinned the southward migration, Liu said.
Based on Chinatrust Real Estate data, price differences in Taipei climbed to 14.89 percent in March, from 12.3 percent in February, but declined from 14.43 percent to 12.75 percent in New Taipei City.
Liu expects housing prices in New Taipei City, currently about half of those in Taipei City, to catch up gradually, but steadily, if the relocation trend persists.
The housing market may receive an additional boost from growing inflationary pressures linked to a 10 percent hike in oil prices this month and steeper increases in electricity rates next month, the brokers said.
The price hikes would drive idle funds toward real estate as a hedge against inflation, Hsu said.
Liu agreed, saying properties in Taipei City have proved to be better choices in this regard.
Taiwan Semiconductor Manufacturing’s (TSMC, 台積電) first wafer fab in Kumamoto, Japan is still set to launch commercial production in the fourth quarter of this year as planned, the world’s largest contract chipmaker said on Saturday in response to reports that mass production might begin ahead of schedule. TSMC said the monthly production capacity of the joint venture fab, Japan Advanced Semiconductor Manufacturing (JASM), is expected to hit 55,000 units of 12-inch wafers, using the mature 12-nanometer, 16-nanometer, 22-nanometer and 28-nanometer processes. JASM is owned by TSMC and its Japanese business partners Sony Semiconductor Solutions Corp and Denso Corp, with the Taiwanese company
US President Joe Biden’s administration is in talks to confer more than US$10 billion in subsidies to Intel Corp, people familiar with the matter said, in what would be the largest award yet under a plan to bring semiconductor manufacturing back to US soil. Intel’s award package is expected to include both loans and direct grants, the source said. They stressed that negotiations are still under way. The US Department of Commerce and Intel declined to comment. The incentives would come from the 2022 Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act, which set aside US$39 billion in direct grants as
German automaker Volkswagen (VW) on Wednesday said that it was discussing the future of its activities in China’s troubled Xinjiang region, following fresh allegations of human rights abuses. The Handelsblatt daily reported that forced labor might have been used to build a test track in Turpan, Xinjiang, in 2019. VW said it had seen no evidence of human rights violations in connection with the project, but vowed to investigate any new information that came to light. In an apparent sign of the growing pressure on the group over its presence in the region, VW added that it was in talks with its Chinese
A new artificial intelligence (AI) tool that promises to create short videos from simple text commands has raised concerns along with questions from artists and media professionals. OpenAI, the creator of ChatGPT and image generator DALL-E, on Thursday said it was testing a text-to-video model called “Sora” that can allow users to create realistic videos with simple prompts. The San Francisco-based start-up said that Sora can “generate complex scenes with multiple characters, specific types of motion, and accurate details of the subject and background,” but added that it still has limitations, such as possibly “mixing up left and right.” Examples of Sora-created clips