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.
JITTERS: Nexperia has a 20 percent market share for chips powering simpler features such as window controls, and changing supply chains could take years European carmakers are looking into ways to scratch components made with parts from China, spooked by deepening geopolitical spats playing out through chipmaker Nexperia BV and Beijing’s export controls on rare earths. To protect operations from trade ructions, several automakers are pushing major suppliers to find permanent alternatives to Chinese semiconductors, people familiar with the matter said. The industry is considering broader changes to its supply chain to adapt to shifting geopolitics, Europe’s main suppliers lobby CLEPA head Matthias Zink said. “We had some indications already — questions like: ‘How can you supply me without this dependency on China?’” Zink, who also
The number of Taiwanese working in the US rose to a record high of 137,000 last year, driven largely by Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) rapid overseas expansion, according to government data released yesterday. A total of 666,000 Taiwanese nationals were employed abroad last year, an increase of 45,000 from 2023 and the highest level since the COVID-19 pandemic, data from the Directorate-General of Budget, Accounting and Statistics (DGBAS) showed. Overseas employment had steadily increased between 2009 and 2019, peaking at 739,000, before plunging to 319,000 in 2021 amid US-China trade tensions, global supply chain shifts, reshoring by Taiwanese companies and
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) received about NT$147 billion (US$4.71 billion) in subsidies from the US, Japanese, German and Chinese governments over the past two years for its global expansion. Financial data compiled by the world’s largest contract chipmaker showed the company secured NT$4.77 billion in subsidies from the governments in the third quarter, bringing the total for the first three quarters of the year to about NT$71.9 billion. Along with the NT$75.16 billion in financial aid TSMC received last year, the chipmaker obtained NT$147 billion in subsidies in almost two years, the data showed. The subsidies received by its subsidiaries —
At least US$50 million for the freedom of an Emirati sheikh: That is the king’s ransom paid two weeks ago to militants linked to al-Qaeda who are pushing to topple the Malian government and impose Islamic law. Alongside a crippling fuel blockade, the Group for the Support of Islam and Muslims (JNIM) has made kidnapping wealthy foreigners for a ransom a pillar of its strategy of “economic jihad.” Its goal: Oust the junta, which has struggled to contain Mali’s decade-long insurgency since taking power following back-to-back coups in 2020 and 2021, by scaring away investors and paralyzing the west African country’s economy.
RSS