New Taipei City’s Sanchong District (三重) in the first eight months of this year topped other areas in the city with 5,594 land deals, as major developers expanded their presence to take advantage of its improving infrastructure and proximity to Taipei Railway Station, Shining Building Business Co (鄉林建設) said in a report yesterday.
The figure suggested a 29 percent increase from the same period last year, outpacing increases in other districts within the municipality, the developer said, adding that Sanchong also ranked first in housing deals last month at 3,153, or an 18.6 percent annual gain.
“The district is only a bridge away from the heart of downtown Taipei, making it a popular location for headquarters of companies such as contract computer maker Clevo Co (藍天電腦), Chicony Electronics Co (群光電子) and Taiwan Sun Flower Cotton Product Co (三花棉業),” the developer said.
Cathay Real Estate Development Co (國泰建設), Ruentex Development Co (潤泰創新), Kindom Construction Corp (冠德建設) and Maw Der Property Development Co (茂德機構) have also established a presence in Sanchong, it said.
Companies returning home from China to diversify investment risks amid US-China tensions and the COVID-19 pandemic have reinforced the trend, Shining chairman Lai Cheng-i (賴正鎰) said.
“With a lack of new land in Taipei, companies find it acceptable to settle in this part of New Taipei City” that is connected to Taipei by the Taipei MRT and Taoyuan Airport MRT systems, Lai said, adding that New Taipei City is building more transit lines to ease traffic.
The concept of the greater Taipei area has increasingly blurred the lines between Taipei and New Taipei City in terms of location preferences, he said.
Rezoning areas in Sinjhuang District (新莊) next to Sanchong might also benefit from improving infrastructure facilities, Lai said.
Housing prices in Sinjhuang and Lujhou (蘆洲) districts stood firm above NT$400,000 (US$13,718) per ping (3.3m2) and might rise by another 10 to 20 percent in the coming years on the back of improving transport convenience, he said.
Taiwan’s relatively healthy economy amid the pandemic is lending support to the local property market, with presale and new housing projects likely hitting NT$1.5 trillion this year, while property transactions might exceed 300,000 units, the developer said.
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