Most Taiwanese firms have adopted a cautious view about investing in commercial property for the remainder of the year, while some believe it is time to adjust portfolios in anticipation of the registration requirement for property transactions which takes effect next month, a Sinyi Realty Inc (信義房屋) survey showed yesterday.
The survey, conducted between July 2 and July 6, showed 62 percent of firms opted to stay on the sidelines, while 25 percent considered it better to cut weak assets ahead of the implementation of registration rules on Aug. 1, said Michael Wang (王維宏), an account manager at Sinyi’s asset department.
The results suggest a sluggish market ahead, although 53 percent favor parking funds in real estate compared with stocks, bonds and other investment tools, Wang said.
The survey showed about 46 percent of respondents think the registration rules will cause prices to fall in the coming year, while 30 percent forecast an uptrend.
Wang attributed the pessimism to Europe’s debt problems, a disappointing domestic economy and the stock market slump.
Meanwhile, 37 percent of firms planned to buy commercial properties this year, with Taipei’s Dun Nan (敦南) district topping the list of desired areas with 16 percent, followed by Nanjing-Fuxing (南京復興) at 13 percent and Nanjing-Songjiang (南京松江) with 12 percent. Wang said Xinyi District (信義) fell out of the top three due to its high prices.
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