The nation’s major property brokers reported a significant increase in housing transactions in the first two months of this year as buying interest picked up amid continued economic improvement.
Evertrust Rehouse Co (永慶房屋), the nation’s largest broker by number of offices, saw a 23 percent rise in sales during the first two months compared with the same period last year.
A stable economy lent support to the healthy showing and price concessions on the part of sellers also helped facilitate deals, Evertrust spokesman Jay Hsieh (謝志傑) said.
It is better to examine the market by combining the number of transactions in January and February to mute any Lunar New Year holiday disruption, Hsieh said.
Sales last month alone would have plunged 33 percent if compared with January due to fewer working days, he said.
People usually take a break from looking for houses ahead and right after the Lunar New Year holiday, he added.
Buying interest grew most evidently in Taipei with a 37 percent increase, followed by Tainan with 34 percent growth and New Taipei City with a 34 percent pickup, Evertrust data showed.
Most in demand were apartments priced between NT$7 million and NT$12 million (US$239,480 and US$410,537) in Hsinchu, and houses priced between NT$5 million and NT$10 million in Taichung, Hsieh said.
Sinyi Realty Inc (信義房屋), the nation’s only listed broker, reported a 16 percent increase in transactions in the first two months.
Taichung fared the strongest with a 21 percent increase in transactions, followed by a 19 percent pickup in both Taipei and New Taipei City, Sinyi said.
The recovery seen last year appears to have been sustained so far this year and it could extend through the spring sales season until the end of next month on the back of positive economic data at home and abroad, Sinyi researcher Tseng Ching-der (曾敬德) said.
Global bourses have stabilized following corrections and put an end to concerns about a negative wealth effect, Tseng said.
Taiwan Realty Co (台灣房屋) observed a mild 2.4 percent increase in transactions nationwide.
Taipei staged the fastest rebound of 28.4 percent, while transactions in New Taipei City declined 24.7 percent.
Taiwan Realty said it was premature to speculate on a recovery as lingering expectations of falling prices would continue to weigh on the number of transactions.
Prices declined 8.7 percent year-on-year in Taipei, showing price cuts remain the key to the number of transactions, Taiwan Realty said.
Buying interest is strong in Taoyuan due to its relative affordability, it said.
Great Home Realty Co (大家房屋) head of research Mandy Lang (郎美囡) said buyers were assigning more importance to building safety following the Feb. 6 earthquake in Hualien.
That might help facilitate more urban renewal projects, Lang said.
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