Presale and new housing projects in the nation’s major municipalities have reached NT$542.89 billion (US$18.48 billion) in the autumn sales season, as real demand is supporting the property market despite the COVID-19 pandemic, the online housing unit of Addcn Technology Co Ltd (數字科技) said in a report.
The volume represents a minor drop of 4 percent year-on-year for the post-Ghost Month sales season, when developers and builders seek to reboot sales after lying low, the newhouse.591.com (591新建案) unit said in the report.
New Taipei City accounts for the biggest share, an estimated NT$165.9 billion of presale and new housing projects, primarily in Banciao (板橋), Sanchong (三重), Sindian (新店), Linkou (林口) and Sinjhuang (新莊) districts, the report said.
New housing projects total NT$25 billion in Banciao’s rezoning area, where major players such as Ruentex Industries Co (潤泰全球), I Sunny Co (愛山林建設) and the development arm of Sinyi Realty Inc (信義房屋) have projects, it said.
Hahuan Group’s (合環建設機構) urban renewal project, which makes up another NT$20 billion, offers apartments of 29 ping (95.87m2) to 76 ping on a 2,000 ping plot of land on Sindian’s Baociao Road, the report said, adding that asking prices could reach NT$800,000 per ping.
Taiwan’s quick control of the COVID-19 outbreak has given land developers and real-estate builders the confidence to launch new products, while their peers elsewhere have adopted a conservative strategy, the report said.
Among major municipalities, Taipei, with only NT$50 billion in new housing projects offered — a 20 percent decline from a year earlier — appears more cautious, it said.
Only one project in the city, near Beitou MRT Station, has a total sales volume of more than NT$6 billion, it added.
New housing projects in Taichung rose 20 percent to NT$96.83 billion, as presale apartments priced at NT$8 million have rapidly become popular, the report said.
Sales strategies that highlight low down payments of NT$30,000 per unit and low mortgage responsibilities of NT$5,000 per month have helped to motivate potential buyers in the Taichung area, it said, citing local real-estate agents.
New housing projects reached NT$95.9 billion in Taoyuan and NT$45.9 billion in Hsinchu, with apartments priced at NT$15 million proving the most attractive, while the market in Kaohsiung has remained stable, edging up 3 percent to NT$66.84 billion, the report said.
An office building that is to be constructed by King’s Town Construction Co (京城建設), which is seeking to sell to Taiwanese firms returning from China to avoid US-China trade tensions, underpins the uptick in Kaohsiung, it said.
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