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.
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