Commercial property transactions in the nation in the first quarter totaled NT$41.4 billion (US$1.45 billion), the highest ever for the period, supported by healthy demand and excessive liquidity, Colliers International Taiwan (高力國際) said yesterday.
The volume suggested a twofold increase from a year earlier, with life insurance companies contributing 36.59 percent, or NT$15.15 billion, Colliers Taiwan managing director Andrew Liu (劉學龍) said.
Shin Kong Life Insurance Co (新光人壽) won the auction for the China Development Financial Holding Corp’s (中華開發金控) headquarters in January for NT$9.28 billion and bought Riant Plaza (萊恩廣場) in Hsinchu for NT$54 billion one week later, the property consultancy said.
Photo: Hsu Yi-ping, Taipei Times
Industrial properties accounted for 43 percent, or NT$17.6 billion, of the transactions, followed by office spaces at NT$10.1 billion, thanks to companies shifting operation bases home from abroad, Colliers Taiwan said, adding that electronics firms spent a combined NT$8.39 billion to expand their facilities.
Taipei ranked No. 1 with deals valued at NT$24 billion, attributable to the sale of China Development Financial Holding’s headquarters and the building that houses the Far Eastern Sogo Department Store’s (遠東Sogo百貨) Dunnan branch.
Hsinchu County and Taoyuan, popular destinations for reshoring companies to carry out supply chain realignment, ranked second and third, Collier Taiwan said.
Land deals totaled NT$52 billion in the first quarter, a 40 percent retreat from a year earlier, the property consultancy said, adding that developers remained eager in building up land stock, despite tightened credit controls.
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