Presale and newly completed house prices last quarter picked up 18.1 percent on average in northern Taiwan, but the uptrend might come to an end next year if sales continue to stall, property researcher My Housing Monthly said in a report.
“This segment of the property market has seen a tumultuous year, but has held firm so far, despite unfavorable twists sprouting almost every month,” the Chinese-language publication’s research chief Ho Shih-chang (何世昌) said, referring to interest rate hikes, punitive taxes on short-term property trading, selective credit controls and bans on preorder transfers.
Building material price hikes, labor shortages and a lack of selling pressure have prompted developers to adopt a bold pricing strategy, but a turnabout might be inevitable if sales rates disappoint for an extended period, Ho said, citing a noticeable gain in housing supply in the second half of the year.
Photo: Hsu Yi-ping, Taipei Times
Presale housing projects in Taipei averaged NT$1.06 million (US$33,246) per ping (3.3m2) during the July-to-September period, up 4.2 percent from three months earlier and 12.7 percent from a year earlier, the publication’s report showed.
The price hikes in the capital were broad-based, with presale projects in second-tier Wanhua District (萬華) for the first time commanding more than NT$1 million per ping and more than NT$700,000 per ping in Wenshan District (文山), Ho said.
Neighboring New Taipei City saw presale projects climbing 3.1 percent sequentially and 10.4 percent from a year earlier to a new peak of NT$460,000 per ping, Ho said, adding that presale prices have made records for the past four straight quarters.
Developers now demand more than NT$600,000 per ping for projects in Jhonghe (中和), making it the second-most expensive administrative district in New Taipei City after Yonghe (永和) and ahead of Banciao (板橋), Ho said.
Developers in Taoyuan assigned more importance to affordability in hopes of facilitating deals and therefore priced projects at NT$309,000 per ping, a mild 2 percent increase from the previous quarter, but a 19.8 percent spike from a year earlier, it said.
Presale projects in Hsinchu averaged NT$357,000 per ping, growing 7.9 percent from three months earlier and surging 44.5 percent from a year earlier, as its proximity to the Hsinchu Science Park (新竹科學園區) attracted buying interest, it said.
It would be impossible for housing prices to rise forever and ongoing economic uncertainty might slow the upturn this quarter, triggering a price correction next year amid tepid sales, Ho said.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
RSS