Housing prices dropped an average of 2.8 percent last quarter from a year earlier, as sellers showed flexibility amid unfavorable policies, according to a report yesterday by Sinyi Realty Inc (信義房屋).
The nation’s only listed broker’s housing price index stood at 289.3 during the April-to-June period, down 2.8 percent from the year-ago level or 0.9 percent from three months earlier, the report showed.
The price index in Taipei reported the biggest decline — 6.6 percent — to 289.6, falling below the 300-point mark largely because of credit controls and holding tax hikes, the report said.
“That meant a house valued at NT$20 million [US$638,121] a year ago would cost NT$1.32 million less this year,” Sinyi researcher Tseng Chin-der (曾進德) said in the report.
The decline is consistent with corrections of between 5 percent and 10 percent as published on the real price transaction Web site set up by the government, Tseng said.
The indices for New Taipei City and Taoyuan weakened by 1.4 percent and 2.3 percent year-on-year to 308.01 and 303.3 respectively, the report said.
The figures indicated that home prices in the two areas have been relatively stable, but might be under pressure for corrections if trading softens further, the report said.
House prices elsewhere continued to rise, the report showed.
The price index in Kaohsiung recorded the biggest gain — 9.2 percent — to 256.89 from a year earlier, while the index for Taichung rose 1.3 percent to 296.95, and Hsinchu’s rose 2 percent to 211.69.
Tseng attributed the price hikes to relative affordability and demand from self-occupants.
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