Major property brokers reported an annual increase in housing transactions last month, thanks to ample liquidity and low interest rates, which drove potential buyers to drop their wait-and-see attitude.
Sinyi Realty Inc (信義房屋) said that transactions at its offices nationwide picked up 30 percent year-on-year and held steady compared with August.
Taiwan’s efficient control of the COVID-19 outbreak coupled with an easy monetary policy allowed buyers to regain confidence and stop sitting on the sidelines, Sinyi researcher manager Tseng Ching-der (曾敬德) said.
Apartment units priced between NT$10 million and NT$20 million (US$343,336 and US$686,672) were the most popular in New Taipei City, where transactions soared 32 percent year-on-year, Tseng said.
The July-to-September quarter, traditionally a low season for the housing market due to the lunar Ghost Month and summer vacation, was not slow at all this year, he said.
Evertrust Rehouse Co (永慶房屋) said its outlets reported that housing deals nationwide surged 33 percent last month from a year earlier, although Kaohsiung only posted a 15 percent increase.
A recovery in confidence and ultra-low borrowing costs underpinned the performance, while the absence of bad weather this year also lent support, Evertrust spokesman Jay Hsieh (謝志傑) said.
Demand in Hsinchu, home to Taiwan’s high-tech companies, was particularly strong, Hsieh said, adding that relative housing affordability made Taichung and Tainan popular as well.
Property analysts have said that demand in Tainan might soon outpace that in Kaohsiung, as Taiwan Semiconductor Manufacturing Co (台積電), the world’s largest contract chipmaker, is building advanced facilities in Tainan and is recruiting engineers.
H&B Realty Co (住商不動產) said that its transactions last month jumped 45.1 percent from a year earlier, led by strong buying in Tainan.
Tainan benefited from major infrastructure projects and improving business activity, H&B research chief Jessica Hsu (徐佳馨) said.
The housing market could thrive as the peak season begins, brokers said.
Tseng said that favorable factors, such as low interest rates, would continue to boost deals, while Hsieh said that housing transactions normally gain better growth momentum in the fourth quarter, as long as the economy at home and abroad is stable.
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