Taipei’s top luxury home projects are about to sell out following years of inventory corrections and price concessions, a report by the Chinese-language Housing Monthly (住展雜誌) said yesterday.
The magazine defines extravagant homes as those valued at NT$2 million (US$65,563) per ping (3.3m2) and up.
“The luxury home market is running out of stock as years of price concessions and inventory adjustments pay off,” Ho Shih-chang (何世昌), the magazine’s research manager said, in the report.
Peace Palace (和平大苑), an urban renewal project between Yuanlih Construction Enterprise Group (元利建設) and private owners, that launched in 2016 is 70 percent sold, Ho said.
The high-rise at the intersection of Heping E Road and Jingshan S Road gained attention when singer-songwriter Jay Chou (周杰倫) bought the top two floors for NT$2.25 million per ping, Ho said, citing the government real-price transaction data.
The newly completed 55 Timeless Tower (琢白) by Continental Development Corp (CDC, 大陸建設) in the Xinyi District (信義) is more than 60 percent sold, the report said.
The tower is popular with buyers in their 40s and 50s, due to its simple and elegant design by award-winning US architect Richard Meier, the report said.
The building features 43 units of 140 ping and 260 ping, and is relatively affordable, compared with similar nearby properties after CDC cut prices, the report said.
The Sherwood Residence (西華富邦), a 198-unit serviced apartment building in the Dazhi area (大直) with upper floors that overlook the Keelung River and Taipei International Airport (Songshan airport), has about 40 larger units available, while the smaller 108-ping units are all sold, the report said.
Huaku Development Co (華固建設) recently sold all 25 units in an upscale building on Dunhua N Road, which boosted its revenue more than fourfold in the first 10 months of this year from a year earlier and sent its share prices up this month, the report said.
Sale rates hovered around 70 percent at Huaku Development project in the Tianmu area (天母), it said.
The slow, but gradual recovery in the luxury home market has led developers to be less flexible on pricing, Ho said.
Taichung reported the steepest fall in completed home prices among the six special municipalities in the first quarter of this year, data compiled by Taiwan Realty Co (台灣房屋) showed yesterday. From January through last month, the average transaction price for completed homes in Taichung fell 8 percent from a year earlier to NT$299,000 (US$9,483) per ping (3.3m²), said Taiwan Realty, which compiled the data based on the government’s price registration platform. The decline could be attributed to many home buyers choosing relatively affordable used homes to live in themselves, instead of newly built homes in the city’s prime property market, Taiwan Realty
The government yesterday approved applications by Alphabet Inc’s Google to invest NT$27.08 billion (US$859.98 million) in Taiwan, the Ministry of Economic Affairs said in a statement. The Department of Investment Review approved two investments proposed by Google, with much of the funds to be used for data processing and electronic information supply services, as well as inventory procurement businesses in the semiconductor field, the ministry said. It marks the second consecutive year that Google has applied to increase its investment in Taiwan. Google plans to infuse NT$25.34 billion into Charter Investments Ltd (特許投資顧問) through its Singapore-based subsidiary Fructan Holdings Singapore Pte Ltd, and
JET JUICE: The war on Iran’s secondary effects have seen fuel prices skyrocket, knocking flight schedules down to earth in return as airlines struggle with costs Airline passengers should brace for more irritation in the next few months as carriers worldwide cancel flights and ground planes to cope with stratospheric increases in jet-fuel prices. Dutch flag carrier KLM is the latest company to cut its schedule, saying on Thursday that it would scrap 80 return flights at Amsterdam’s Schiphol Airport in the coming month. That puts it in the same league as United Airlines Holdings Inc, Deutsche Lufthansa AG and Cathay Pacific Airways Ltd, which have all pruned itineraries to mitigate costs. Global capacity for next month has been reduced by about 3 percentage points, with all
The US said it plans to help build a first-of-its-kind industrial hub in the Philippines to boost production of inputs crucial to US supply chains. The 4,000-acre hub is intended to be “a purpose-built platform for allied manufacturing” and “an investment acceleration hub where the specific industrial activities are shaped by market demand,” the US Department of State said on Thursday. The project — touted as an “economic security zone” — would be within the Luzon Economic Corridor, a flagship economic project backed by the US and Japan on the main Philippine island. The project was also described as “the first artificial intelligence
RSS