Residential and commercial property transactions in the six special municipalities grew nearly 10 percent in the first two months of this year from the period a year earlier, as the local property market continued its uptrend.
According to data released by the Taipei, New Taipei City, Taoyuan, Taichung, Tainan and Kaohsiung city governments, transactions of homes, offices and shops during the period rose 9.76 percent from a year earlier to 30,640 units.
Last month alone, transactions in the six cities fell 7.8 percent year-on-year to 11,300 units due to the reduced number of working days as a result of the six-day Lunar New Year holiday. Last year, the holiday was in January.
The growth in property transactions shows that increased interest in buying continued after last year’s 11.85 percent year-on-year increase, a positive sign for the local property market, Sinyi Realty Inc (信義房屋) research manager Tseng Ching-der (曾敬德) said.
All of the cities reported growth in housing transactions in the first two months, with Taipei witnessing sales growth of 15.1 percent from a year earlier to 3,687 units.
The Taipei market benefited from rising demand in Neihu (內湖), Zhongshan (中山) and Daan (大安) districts, as homebuyers took advantage of a fall in housing prices, National Reality Co (全國不動產) manager Hsu Chih-yao (許智堯) said.
Tainan recorded the highest growth of 32.2 percent during the period, with residential and commercial property sales totaling 3,345 units, while Kaohsiung reported 4,996 transactions, up 7.5 percent from a year earlier.
The growth in Tainan and Kaohsiung reflects property developers’ efforts to attract buyers by launching new projects, particularly small homes at lower prices, Eastern Realty (東森房屋) said.
Housing transactions in New Taipei City, Taoyuan and Taichung grew 0.3 percent, 8 percent and 13 percent with 7,684, 4,873 and 6,055 units respectively, after an increase in properties on the market, National Realty said.
Amid expectations of rising inflation, many property investors are this year expected to pour funds into the market, so the strong buying in the first two months is expected to continue for the rest of the year, National Realty head of research Chang Ching-yun said.
However, home prices are expected to remain in consolidation mode this year, Chang added.
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