Major Taiwanese developers and brokers are poised to launch new housing projects in the coming spring sales season to take advantage of the nation’s robust economy and a real-estate boom.
Taiwan’s two largest housing agencies, JSL Construction & Development Co (愛山林) and Hiyes International Co (海悅國際開發), said they have NT$110 billion (US$3.95 billion) and NT$80 billion worth of projects on hand for the season with starting dates next month and April.
The sales strategy reflects positive sentiment on the supply side, encouraged by last year’s strong growth in GDP of 6.28 percent, and could continue to expand by more than 4 percent this year.
Photo: I-Hwa Cheng/Bloomberg
Hiyes is to put on the market an urban renewal project called Diamond Towers on Zhongxiao E Road with NT$45 billion in sales, the third development of Grant Manor in New Taipei City’s Tucheng District at NT$15 billion and another urban renewal project in Kaohsiung at NT$14 billion.
JSL said its projects would include residential complexes in New Taipei City’s Tamsui (淡水), Sanchong (三重) and Sijhih (汐止) districts, as well as in Keelung and Hsinchu County.
Farglory Land Development Co (遠雄建設) said it would proceed with the project “Park One” in New Taipei City’s Jhonghe District (中和), which could generate NT$5 billion in sales. Its brokerage subsidiary plans to launch projects in Taoyuan.
My Housing Monthly head researcher Ho Chih-chang (何世昌) said that the market would likely be busy in the spring and summer, as developers would slow their pace thereafter as the year-end elections of local administrators and councilors draw near, creating policy uncertainty.
Developers could set high prices for their projects, citing rising building material and labor costs, Ho said, adding that the moves would surely draw attention from policymakers.
Creator Marketing Co (創意家) said that it has projects for sale in Taipei’s Neihu District (內湖) and Dazhi area (大直), New Taipei City’s Sanchong District, Taichung and other parts of Taiwan.
SETBACK: Apple’s India iPhone push has been disrupted after Foxconn recalled hundreds of Chinese engineers, amid Beijing’s attempts to curb tech transfers Apple Inc assembly partner Hon Hai Precision Industry Co (鴻海精密), also known internationally as Foxconn Technology Group (富士康科技集團), has recalled about 300 Chinese engineers from a factory in India, the latest setback for the iPhone maker’s push to rapidly expand in the country. The extraction of Chinese workers from the factory of Yuzhan Technology (India) Private Ltd, a Hon Hai component unit, in southern Tamil Nadu state, is the second such move in a few months. The company has started flying in Taiwanese engineers to replace staff leaving, people familiar with the matter said, asking not to be named, as the
The prices of gasoline and diesel at domestic fuel stations are to rise NT$0.1 and NT$0.4 per liter this week respectively, after international crude oil prices rose last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) announced yesterday. Effective today, gasoline prices at CPC and Formosa stations are to rise to NT$27.3, NT$28.8 and NT$30.8 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said in separate statements. The price of premium diesel is to rise to NT$26.2 per liter at CPC stations and NT$26 at Formosa pumps, they said. The announcements came after international crude oil prices
DOLLAR SIGNS: The central bank rejected claims that the NT dollar had appreciated 10 percentage points more than the yen or the won against the greenback The New Taiwan dollar yesterday fell for a sixth day to its weakest level in three months, driven by equity-related outflows and reactions to an economics official’s exchange rate remarks. The NT dollar slid NT$0.197, or 0.65 percent, to close at NT$30.505 per US dollar, central bank data showed. The local currency has depreciated 1.97 percent so far this month, ranking as the weakest performer among Asian currencies. Dealers attributed the retreat to foreign investors wiring capital gains and dividends abroad after taking profit in local shares. They also pointed to reports that Washington might consider taking equity stakes in chipmakers, including Taiwan Semiconductor
A German company is putting used electric vehicle batteries to new use by stacking them into fridge-size units that homes and businesses can use to store their excess solar and wind energy. This week, the company Voltfang — which means “catching volts” — opened its first industrial site in Aachen, Germany, near the Belgian and Dutch borders. With about 100 staff, Voltfang says it is the biggest facility of its kind in Europe in the budding sector of refurbishing lithium-ion batteries. Its CEO David Oudsandji hopes it would help Europe’s biggest economy ween itself off fossil fuels and increasingly rely on climate-friendly renewables. While