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.
Nvidia Corp chief executive officer Jensen Huang (黃仁勳) on Monday introduced the company’s latest supercomputer platform, featuring six new chips made by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), saying that it is now “in full production.” “If Vera Rubin is going to be in time for this year, it must be in production by now, and so, today I can tell you that Vera Rubin is in full production,” Huang said during his keynote speech at CES in Las Vegas. The rollout of six concurrent chips for Vera Rubin — the company’s next-generation artificial intelligence (AI) computing platform — marks a strategic
Enhanced tax credits that have helped reduce the cost of health insurance for the vast majority of US Affordable Care Act enrollees expired on Jan.1, cementing higher health costs for millions of Americans at the start of the new year. Democrats forced a 43-day US government shutdown over the issue. Moderate Republicans called for a solution to save their political aspirations this year. US President Donald Trump floated a way out, only to back off after conservative backlash. In the end, no one’s efforts were enough to save the subsidies before their expiration date. A US House of Representatives vote
REVENUE PERFORMANCE: Cloud and network products, and electronic components saw strong increases, while smart consumer electronics and computing products fell Hon Hai Precision Industry Co (鴻海精密) yesterday posted 26.51 percent quarterly growth in revenue for last quarter to NT$2.6 trillion (US$82.44 billion), the strongest on record for the period and above expectations, but the company forecast a slight revenue dip this quarter due to seasonal factors. On an annual basis, revenue last quarter grew 22.07 percent, the company said. Analysts on average estimated about NT$2.4 trillion increase. Hon Hai, which assembles servers for Nvidia Corp and iPhones for Apple Inc, is expanding its capacity in the US, adding artificial intelligence (AI) server production in Wisconsin and Texas, where it operates established campuses. This
US President Donald Trump on Friday blocked US photonics firm HieFo Corp’s US$3 million acquisition of assets in New Jersey-based aerospace and defense specialist Emcore Corp, citing national security and China-related concerns. In an order released by the White House, Trump said HieFo was “controlled by a citizen of the People’s Republic of China” and that its 2024 acquisition of Emcore’s businesses led the US president to believe that it might “take action that threatens to impair the national security of the United States.” The order did not name the person or detail Trump’s concerns. “The Transaction is hereby prohibited,”
RSS