Taipei 101, in the capital’s prime Xinyi District (信義), won the “King of the Land” title for the 10th straight year, with the value of office space in the skyscraper rising to NT$6.55 million (US$213,286) per ping (3.3m2), the Taipei City Government said.
The adjustments means the value of the landmark building is NT$1.98 million per square meter for taxation purposes next year.
Homeowners must pay land taxes annually, but land value increment taxes only upon selling their houses.
Photo: Hsu Yi-ping, Taipei Times
The Shin Kong Tower near Taipei Railway Station in Zhongheng District (中正) ranked second, at NT$6.29 million per ping, it said.
The city government said the citywide assessment was based on a survey of property transactions from Sept. 2 last year to Sept. 1.
During the period, the number of real-estate deals fell 3.6 percent to 29,672, but property prices gained 5.81 percent, it said.
The trend is attributable to building material price increases and a slowdown in GDP growth, it added.
Robust demand for upscale office space in central business districts pushed up the value of Taipei 101 offices, as well as those in high-rise buildings nearby, it said.
Property prices in all of the city’s 12 districts picked up, at 3.71 percent on average, while 2.76 percent of the area assessed posted flat prices and 0.27 percent saw price corrections, it said.
Nangang District (南港) reported the fastest price growth, at 4.56 percent, thanks to improving infrastructure facilities linked to the city government’s Eastern District Gateway Project (東區門戶計劃), it said.
Neihu District (內湖) was second, posting a 4.2 percent uptick on the back of housing demand, it said.
Wanhua District (萬華) registered the smallest increase, at 3.02 percent, as commercial activity in the Ximending (西門町) area took a hard hit from the COVID-19 pandemic, it said.
Taipei Department of Land Administration Commissioner Chang Chih-hsiang (張治祥) said land value increment taxes do not affect people who do not engage in property transactions.
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