More Taiwanese are interested in buying property this quarter, as earlier expectations of price corrections caused by the COVID-19 pandemic failed to materialize, a survey by Chinatrust Real Estate Co (中信房屋) showed.
Nearly 30 percent of respondents are expecting price increases this quarter, compared with 17 percent who hold an opposite view, the Taipei-based real-estate agent said, adding that the majority, 54 percent, expect prices to hold steady.
Expectations of lower prices have subsided after the property market emerged from the height of the pandemic in March and April unscathed, it said.
The pandemic postponed plans to buy property rather than canceling them, it added.
While 20.4 percent of respondents canceled plans to search for prospective purchases for fear of infection, 34.2 percent continued their search and carried out transactions as normal, the survey showed.
Taiwan has reported 455 COVID-19 cases, including seven deaths.
The survey showed that 22 percent of respondents had observed price declines last quarter, while 15 percent said they observed increases.
The absence of price retreats last quarter gave prospective buyers more confidence to rejoin the market this quarter, while the prospect of bargain-hunting faded, Chinatrust Real Estate said.
The improvement in sentiment helped explain why property transactions had gained traction last month when compared with May, it said.
Buying interest has gathered momentum even though 42.6 percent of respondents expected the local economy to slow quarter-on-quarter in the third quarter, the company said, adding that nearly 37 percent expected a stronger third quarter, while 20.6 percent expected growth to be flat.
Economists have forecast that the worst is likely over and the local economy would improve each quarter for the rest of the year.
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