Presale and new housing projects in Taiwan’s major municipalities for the upcoming spring sales season total NT$700.7 billion (US$24.64 billion), an increase of 5 percent from a year earlier, as developers are upbeat about sales, Addcn Technology Co’s (數字科技) online realty arm said yesterday.
The volume represents a five-year high and includes projects in Taipei, New Taipei City, Taoyuan, Taichung, Tainan and Kaohsiung, as well as Hsinchu city and county, newhouse.591.com (591新建案) said.
“The supply side seems unfazed by uncertainty linked to Russia’s invasion of Ukraine and additional credit controls imposed by the central bank,” the online broker said, as inflation concerns tend to lend support to real-estate transactions in Taiwan.
Photo: CNA
Assorted surveys have found that real estate is the tool preferred among Taiwanese for combatting inflation, the broker said, adding that local interest rates would remain low even if the central bank opts to raise borrowing costs.
The projects for sale in Taipei total NT$127.7 billion, with The Diamond Tower, a high-profile urban renewal project, accounting for NT$45 billion, it said.
The mixed-use complex offers 98 luxury apartments that start at NT$2.5 million per ping (3.3m2) given its location near Zhongxiao-Fuxing MRT Station, it said.
New Taipei City is to see the launch of projects in Tamsui (淡水), Sanchong (三重) and Sinjhuang (新莊) districts that together could generate NT$197.95 billion in sales, or a 25.75 percent pickup from a year earlier, it said.
Presale and new projects are expected to increase 7.03 percent year-on-year to NT$96.47 billion in Taoyuan, while more than doubling to NT$70.58 billion in Hsinchu city and county, the broker said.
Developers in Hsinchu last year turned low key after controversial marketing practices angered regulators.
Presale and new projects are expected to fall 5.55 percent to NT$18.03 billion in Taichung, while declining 67.32 percent to NT$14.11 billion in Tainan, due to high comparison bases last year and lingering labor shortages, it said.
However, those factors have failed to deter swift growth in Kaohsiung, where NT$75.86 billion of presale and new projects are to join the market, suggesting growth of 45.86 percent from a year earlier, it said.
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