The housing market in northern Taiwan remained sluggish last month, a survey released on Thursday last week by Chinese-language My Housing Monthly showed.
The housing index compiled by the magazine fell three points from a month earlier to 33.7, but remained in the “yellow-blue” category, which is from 32 to 42 points, for the 12th consecutive month, it said.
Under My Housing Monthly’s color-coded system, “red” indicates overheating, “yellow-red” shows fast growth, “green” represents stable growth, “yellow-blue” signals sluggish growth and “blue” indicates contraction.
Photo: Hsu Yi-ping, Taipei Times
The index covers major counties and cities in northern Taiwan — such as Taipei, New Taipei City, Keelung and Taoyuan, and Hsinchu and Yilan counties — which accounts for more than 50 percent of total residential and commercial property transactions in the country.
Ho Shih-chang (何世昌), a research manager at the magazine, said the decline largely reflected fragile confidence among property developers and real-estate firms, which led to a decline in the amount of property put up for sale last month, a traditional slow season.
However, buyers with real demand still purchased property, lending some support to the entire market in the month, Ho said.
Among the six factors in the index, the sub-indices for listings of new residential property projects, listings of newly built residential properties and housing advertising volume fell to 6.90, 2.76 and 3.28 respectively, from 7.99, 4.44 and 3.88 a month earlier, the survey showed.
Amid cautious sentiment among developers, new residential property listings in northern Taiwan totaled about NT$30 billion (US$1.06 billion) last month, down from about NT$50 billion in January, Ho said.
Bucking the downturn, the sub-index on home price negotiations rose to 8.21 from January’s 7.86, the survey showed.
The sub-indices on visits to properties by potential buyers and total transactions remained unchanged at 6.92 and 5.63 respectively, the poll showed.
The survey was conducted before the government unveiled its latest measures to rein in speculation in the property market.
The Executive Yuan on Thursday last week approved a draft amendment to the Income Tax Act (所得稅法), imposing heavier taxes on property sellers for transactions if they sell property within a fixed period.
JPMorgan Chase & Co chief executive officer Jamie Dimon on Tuesday quipped that his company is likely to outlast the Chinese Communist Party (CCP), while reiterating the bank’s commitment to the country in wide-ranging comments that also touched on Taiwan, free speech and former US president Donald Trump. “We hope to be there [in China] for a long time,” Dimon told a panel discussion at the Boston College Chief Executives Club. Relaying a “joke” he made during a recent visit to Hong Kong, he said “The communist party is celebrating its 100th year. So is JPMorgan. And I’ll make you a
The Kaohsiung City Government yesterday said it would impose a property hoarding tax as it is seeking to contain speculation in the real-estate market, calling recent price increases “abnormal.” The announcement came in support of the Ministry of Finance’s call for local governments to levy a high tax rate on people with more than one property. Ministry officials on Tuesday discussed strategies to rein in speculation with the nation’s six special municipalities, as well as the Hsinchu city and county governments. About 84,000 out of 1.06 million housing units in Kaohsiung are not residential property, the city government said in a
BOOST EXPECTED: Higher market prices would offset effects of the industry’s transition to more climate-friendly production methods, a company official said China Steel Corp (CSC, 中鋼) expects steel demand to increase on the back of governments around the world subsidizing infrastructure construction amid a stabilizing COVID-19 pandemic, CSC chairman Wong Chao-tung (翁朝棟) told an investors’ meeting yesterday. “After getting through the hard times, I foresee at least one year, very possibly two years, of strong steel market,” Wong said. Calling a dip in steel prices a “short respite for the market,” Wong said that it would likely bounce back early next year on the back of mild winter temperatures around the world allowing construction activity. Despite COVID-19 spikes in some regions and increased
The US$410 DeliSofter pot looks much like the rice cookers ubiquitous in Japanese households and it does prepare rice in 24 minutes. However, this invention of two Panasonic Corp engineers is designed to do more and help people with swallowing difficulties. The two women led the creation of a spin-off company, Gifmo Co, to sell the specialized steam cooker, which they say can turn fried chicken soft enough to be sliced with a potato chip. The machine works by first cutting into food with a series of blades and then subjecting it to extremely high pressure at a temperature of 120°C,