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.
CAUTIOUS RECOVERY: While the manufacturing sector returned to growth amid the US-China trade truce, firms remain wary as uncertainty clouds the outlook, the CIER said The local manufacturing sector returned to expansion last month, as the official purchasing managers’ index (PMI) rose 2.1 points to 51.0, driven by a temporary easing in US-China trade tensions, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The PMI gauges the health of the manufacturing industry, with readings above 50 indicating expansion and those below 50 signaling contraction. “Firms are not as pessimistic as they were in April, but they remain far from optimistic,” CIER president Lien Hsien-ming (連賢明) said at a news conference. The full impact of US tariff decisions is unlikely to become clear until later this month
Popular vape brands such as Geek Bar might get more expensive in the US — if you can find them at all. Shipments of vapes from China to the US ground to a near halt last month from a year ago, official data showed, hit by US President Donald Trump’s tariffs and a crackdown on unauthorized e-cigarettes in the world’s biggest market for smoking alternatives. That includes Geek Bar, a brand of flavored vapes that is not authorized to sell in the US, but which had been widely available due to porous import controls. One retailer, who asked not to be named, because
CHIP DUTIES: TSMC said it voiced its concerns to Washington about tariffs, telling the US commerce department that it wants ‘fair treatment’ to protect its competitiveness Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reiterated robust business prospects for this year as strong artificial intelligence (AI) chip demand from Nvidia Corp and other customers would absorb the impacts of US tariffs. “The impact of tariffs would be indirect, as the custom tax is the importers’ responsibility, not the exporters,” TSMC chairman and chief executive officer C.C. Wei (魏哲家) said at the chipmaker’s annual shareholders’ meeting in Hsinchu City. TSMC’s business could be affected if people become reluctant to buy electronics due to inflated prices, Wei said. In addition, the chipmaker has voiced its concern to the US Department of Commerce
STILL LOADED: Last year’s richest person, Quanta Computer Inc chairman Barry Lam, dropped to second place despite an 8 percent increase in his wealth to US$12.6 billion Staff writer, with CNA Daniel Tsai (蔡明忠) and Richard Tsai (蔡明興), the brothers who run Fubon Group (富邦集團), topped the Forbes list of Taiwan’s 50 richest people this year, released on Wednesday in New York. The magazine said that a stronger New Taiwan dollar pushed the combined wealth of Taiwan’s 50 richest people up 13 percent, from US$174 billion to US$197 billion, with 36 of the people on the list seeing their wealth increase. That came as Taiwan’s economy grew 4.6 percent last year, its fastest pace in three years, driven by the strong performance of the semiconductor industry, the magazine said. The Tsai
RSS