Transactions of residential and commercial property in Taiwan’s six special municipalities hit an 11-year high last year, driven by strong demand in the first six months, local government data showed.
Significant demand from January to June offset the effects of the seventh round of selective credit controls launched in the second half by the central bank to limit mortgage eligibility, the data showed.
Transactions of homes, shops, offices and factories in Taipei, New Taipei City, Taoyuan, Taichung, Tainan and Kaohsiung totaled 271,309 units, up 14.7 percent from a year earlier and an 11-year high, the data showed.
Photo: CNA
Jessica Hsu (徐佳馨), research head of property agency H&B Realty Co (住商不動產), said that the credit controls in September affected the local home market.
However, government subsidies for home buyers pushed up property sales in the first half, which helped offset the effect of the central bank’s intervention, Hsu said.
All of the special municipalities reported a year-on-year increase in sales of homes, shops, offices and factories, the data showed.
Residential and commercial property sales last year in Taipei, the most closely watched property market in Taiwan, rose 12.0 percent from a year earlier to 29,930 units, while sales in New Taipei City, the most populous city in the country, rose 6.9 percent to 64,169 units, the data showed.
In Taoyuan, property transactions totaled 49,189 units, up 20.8 percent from a year earlier, while sales in Taichung rose 15.3 percent to 54,996 units, they showed.
Tainan’s property sales grew 11.4 percent from a year earlier to 27,783 units, while sales in Kaohsiung rose 24.8 percent to 45,242 units, they showed.
Sales in Tainan hit a historical high, while transactions in Taichung and Kaohsiung were the highest in 17 and 18 years respectively, said Chen Chin-ping (陳金萍), a research manager at Evertrust Rehouse Co (永慶集團).
Property sales in the six municipalities last month alone totaled 21,445 units, up 8.2 percent from a month earlier, but down 9.7 percent from a year earlier, the data showed.
Charlene Chang (張旭嵐), a section chief at Taiwan Realty Co (台灣房屋), said that the spike last month was due to some home buyers wanting to move into a new house before the Lunar New Year.
Moderating economic growth made some home sellers more willing to cut prices, Chang added.
Taiwan’s exports soared 56 percent year-on-year to an all-time high of US$64.05 billion last month, propelled by surging global demand for artificial intelligence (AI), high-performance computing and cloud service infrastructure, the Ministry of Finance said yesterday. Department of Statistics Director-General Beatrice Tsai (蔡美娜) called the figure an unexpected upside surprise, citing a wave of technology orders from overseas customers alongside the usual year-end shopping season for technology products. Growth is likely to remain strong this month, she said, projecting a 40 percent to 45 percent expansion on an annual basis. The outperformance could prompt the Directorate-General of Budget, Accounting and
The demise of the coal industry left the US’ Appalachian region in tatters, with lost jobs, spoiled water and countless kilometers of abandoned underground mines. Now entrepreneurs are eyeing the rural region with ambitious visions to rebuild its economy by converting old mines into solar power systems and data centers that could help fuel the increasing power demands of the artificial intelligence (AI) boom. One such project is underway by a non-profit team calling itself Energy DELTA (Discovery, Education, Learning and Technology Accelerator) Lab, which is looking to develop energy sources on about 26,305 hectares of old coal land in
Netflix on Friday faced fierce criticism over its blockbuster deal to acquire Warner Bros Discovery. The streaming giant is already viewed as a pariah in some Hollywood circles, largely due to its reluctance to release content in theaters and its disruption of traditional industry practices. As Netflix emerged as the likely winning bidder for Warner Bros — the studio behind Casablanca, the Harry Potter movies and Friends — Hollywood’s elite launched an aggressive campaign against the acquisition. Titanic director James Cameron called the buyout a “disaster,” while a group of prominent producers are lobbying US Congress to oppose the deal,
Two Chinese chipmakers are attracting strong retail investor demand, buoyed by industry peer Moore Threads Technology Co’s (摩爾線程) stellar debut. The retail portion of MetaX Integrated Circuits (Shanghai) Co’s (上海沐曦) upcoming initial public offering (IPO) was 2,986 times oversubscribed on Friday, according to a filing. Meanwhile, Beijing Onmicro Electronics Co (北京昂瑞微), which makes radio frequency chips, was 2,899 times oversubscribed on Friday, its filing showed. The bids coincided with Moore Threads’ trading debut, which surged 425 percent on Friday after raising 8 billion yuan (US$1.13 billion) on bets that the company could emerge as a viable local competitor to Nvidia
RSS