The value of presale and new housing projects in the six special municipalities is nearly NT$600 billion (US$21.63 billion) for this autumn sales season, as developers are regaining confidence because the COVID-19 situation has improved, the online housing unit of Addcn Technology Co Ltd (數字科技) said in a report last week.
Including projects in Hsinchu City, the total amounts to NT$572.1 billion, a 5.4 percent increase from last year, as developers believe it is time to do business after sitting idle for the past four months, when COVID-19 disease prevention measures dampened buying interest, newhouse.591.com (591新建案) said.
The autumn sales season, from Tuesday next week through next month, is a critical gauge of the new housing market’s health in the second half of the year, the online broker said.
Photo: Hsu Yi-ping, Taipei Times
The potential sales volume in Taipei has more than doubled to NT$192.9 billion for this season on expectations that luxury houses in central locations might gain the attention of global investors in search of assets that can stand up to inflation.
That explained why major developers such as Cathay Real Estate Development Co (國泰建設), Yuanlih Group (元利建設) and Ruentex Development Co (潤泰新) have all joined the arena, the report said.
In particular, Taipei’s second-tier Tatung District (大同) is home to town-making and urban renewal projects that could generate handsome revenues for an extended period, it said.
The value of new housing projects in New Taipei City increased 8.2 percent to NT$178.64 billion year-on-year, as rezoned areas in Tucheng (土城), Sindian (新店), Banciao (板橋) and Tamsui (淡水) districts continue to attract property development funds, the report said, adding that small apartments featuring two to four bedrooms dominate the market there.
New housing projects in Taoyuan increased 11.5 percent to NT$95.99 billion, with Cingpu District (青埔) accounting for 50 percent of the total value, because builders are seeking to appeal to first-time home buyers and families with relocation needs, the report said.
New housing projects in Hsinchu City tumbled 57.9 percent to NT$45.99 billion and 77.1 percent in Tainan, as aggressive development in previous years has prompted builders to become conservative and focus on digesting unsold units first, it said.
The value of new housing projects in Kaohsiung shrank 6.8 percent to NT$62.31 billion, it said, adding that Highwealth Construction Corp (興富發) alone contributed NT$29 billion to the total, with its projects near the Kaohsiung Museum of Fine Arts (高雄市立美術).
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