Residential and commercial property transactions in northern Taiwan rebounded last month, rising more than 10 percent from a month earlier, after the central bank eased credit controls on the property market, according to industry statistics.
The data showed that transactions of homes, offices and shops in Taipei in the first 27 days of last month rose 14 percent from a month earlier, while sales in New Taipei City grew 12 percent month-on-month.
The data showed that housing transactions in Taiwan during the 27-day period rose 7 percent from a month earlier.
In Taoyuan, transactions of residential and commercial property jumped 37 percent in the same period.
Buying has been on the rise, with more buyers entering the property market after the central bank largely removed credit controls in late March, Sinyi Realty Inc (信義房屋) research manager Tseng Ching-der (曾敬德) said.
The central bank, in a policy meeting on March 24, decided to remove credit controls on all housing transactions except for “luxury” homes.
The measures lifted the mortgage ceiling of 60 percent that had been imposed on buyers of second properties in Taipei and certain districts in New Taipei City. Decision on mortgage conditions were left to individual banks.
However, the 60 percent mortgage ceiling was maintained for “luxury” homes — housing properties valued at more than NT$70 million (US$2.17 million) in Taipei, more than NT$60 million in New Taipei City and more than NT$40 million in the rest of the nation.
Sales in several Taipei districts, such as Songshan (松山), Xinyi (信義) and Nangang (南港), increased the most following the removal of the controls, statistics showed.
Due to rising optimism about the property market following the central bank’s decision, the decline in housing prices has shown signs of narrowing last month, Tseng said.
According to Sinyi Realty, the average home price in Taipei stood at NT$614,000 per ping (3.3m2), NT$344,000 in New Taipei City and NT$182,000 in Taoyuan.
Despite an increase in housing transactions in northern Taiwan, transactions in Taichung last month fell 14 percent from a month earlier, while transactions in Kaohsiung fell 17 percent.
However, transactions in Tainan rose 10 percent.
Tseng said that many property buyers have anticipated that home prices in Taichung and Kaohsiung would move even lower so they remained reluctant to enter the market.
TAKING STOCK: A Taiwanese cookware firm in Vietnam urged customers to assess inventory or place orders early so shipments can reach the US while tariffs are paused Taiwanese businesses in Vietnam are exploring alternatives after the White House imposed a 46 percent import duty on Vietnamese goods, following US President Donald Trump’s announcement of “reciprocal” tariffs on the US’ trading partners. Lo Shih-liang (羅世良), chairman of Brico Industry Co (裕茂工業), a Taiwanese company that manufactures cast iron cookware and stove components in Vietnam, said that more than 40 percent of his business was tied to the US market, describing the constant US policy shifts as an emotional roller coaster. “I work during the day and stay up all night watching the news. I’ve been following US news until 3am
UNCERTAINTY: Innolux activated a stringent supply chain management mechanism, as it did during the COVID-19 pandemic, to ensure optimal inventory levels for customers Flat-panel display makers AUO Corp (友達) and Innolux Corp (群創) yesterday said that about 12 to 20 percent of their display business is at risk of potential US tariffs and that they would relocate production or shipment destinations to mitigate the levies’ effects. US tariffs would have a direct impact of US$200 million on AUO’s revenue, company chairman Paul Peng (彭雙浪) told reporters on the sidelines of the Touch Taiwan trade show in Taipei yesterday. That would make up about 12 percent of the company’s overall revenue. To cope with the tariff uncertainty, AUO plans to allocate its production to manufacturing facilities in
Six years ago, LVMH’s billionaire CEO Bernard Arnault and US President Donald Trump cut the blue ribbon on a factory in rural Texas that would make designer handbags for Louis Vuitton, one of the world’s best-known luxury brands. However, since the high-profile opening, the factory has faced a host of problems limiting production, 11 former Louis Vuitton employees said. The site has consistently ranked among the worst-performing for Louis Vuitton globally, “significantly” underperforming other facilities, said three former Louis Vuitton workers and a senior industry source, who cited internal rankings shared with staff. The plant’s problems — which have not
COLLABORATION: Given Taiwan’s key position in global supply chains, the US firm is discussing strategies with local partners and clients to deal with global uncertainties Advanced Micro Devices Inc (AMD) yesterday said it is meeting with local ecosystem partners, including Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), to discuss strategies, including long-term manufacturing, to navigate uncertainties such as US tariffs, as Taiwan occupies an important position in global supply chains. AMD chief executive officer Lisa Su (蘇姿丰) told reporters that Taiwan is an important part of the chip designer’s ecosystem and she is discussing with partners and customers in Taiwan to forge strong collaborations on different areas during this critical period. AMD has just become the first artificial-intelligence (AI) server chip customer of TSMC to utilize its advanced
RSS