Local developers and builders plan to launch NT$160.64 billion (US$5.3 billion) in presale housing projects for the spring sales season, a 27.6 percent decline from a year earlier, as virus concerns dampen buying interest, the Chinese-language Housing Monthly (住展雜誌) reported on Thursday.
The planned volume — the lowest in nine years — reflects delay tactics by developers that could take on speed once COVID-19 is contained, the property publication said.
“Developers have turned conservative as the lethal flu-like disease is spreading and keeping people at home to avoid infections,” research manager Ho Shih-chang (何世昌) said.
The spring sales season starts in the final week of next month and runs until the end of April.
Real-estate companies previously bet on a property boom after housing transactions last year reclaimed the 300,000 level.
Small apartments continue to be popular, as they are more affordable for people with real demand, a My Housing Magazine report found.
New Taipei City reported the biggest volume of presale projects at NT$60.8 billion, with most of the projects planned for rezoning areas, Ho said, citing the NT$11 billion in presale projects that Farglory Land Development Co (遠雄建設) plans to construct in Jhonghe District (中和).
Taipei reported the second-biggest volume at NT$47.25 billion — significantly lower than an estimate of more than NT$100 billion prior to the outbreak, Ho said.
An apartment complex on a 1,800 ping (5,950.42m2) plot is drawing the most interest for to its convenient location near the city’s Linguang MRT Station, Ho said, adding that the complex might take in NT$11 billion in sales.
Presale projects in Taoyuan total NT$30 billion, while those in Hsinchu total NT$16 billion, Ho said.
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