Housing transactions this month saw a modest decline from last month due to unfavorable government policies and the Qingming Festival, also known as Tomb Sweeping Day, the nation’s major property brokers said yesterday.
Evertrust Rehouse Co (永慶房屋) said that housing deals this month remained high, although weakening 4 percent from last month, affected by fewer working days and a second wave of credit controls.
“Interest in house hunting picked up in April on the expectation that sellers would become more flexible about pricing if they seek to exit the market before the government introduces core tightening measures,” Evertrust spokesman Jay Hsieh (謝志傑) said.
The Ministry of the Interior is planning amendments to the law that would limit public space ratios in residential buildings, while the central bank has said it is considering additional credit controls if housing and construction loans continue to climb.
In addition, stiffer capital gains taxes of 35 percent to 45 percent on property deals are to take effect in July and property investors might opt out, pushing up selling pressure in the coming few months, analysts have predicted.
H&B Realty Co (住商機構) said that transactions this month softened 7 percent from last month, as some buyers preferred to wait on the sidelines, but most of those buying a primary residence pressed ahead with purchase plans.
Most people understand that the government’s policies are aimed at property investors and not at people with real demand or relocations needs, H&B head researcher Jessica Hsu (徐佳馨) said.
Sinyi Realty Inc (信義房屋) said that housing transactions this month held steady, compared with those of last month, as major economic data continued to point to an economic boom.
Rallies on the local bourse have given people more confidence in acquiring real estate, Sinyi research manager Tseng Ching-der (曾敬德) said.
Residences priced between NT$10 million and NT$15 million (US$357,782 and US$536,673) were popular with buyers, Tseng added.
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