Wasteful real estate practice
I noticed a strange and wasteful phenomena on how real estate developers market their developments. Have you ever noticed that no real estate developer will make do without completing those elaborate and obscenely furnished “show-houses,” which look more like palaces? And four-to-six-months later, the developer tears the whole ensemble down.
I once asked a developer why he did this and who paid for such extravagant waste. He told me it was because of competition; moreover the cost can be included in the price that the buyer pays.
This does not make sense to me. It is more like the developers are egotistic and trying to outdo each other at our expense, the taken-for-a-ride buyers. If it really is a competition, let us compare with Singapore, which has no such unhealthy practice, not even if the developers are selling luxurious developments. The most they would do is build a makeshift show-house that is just adequately furnished to reflect the flavor of the interior designer.
And mind you, this is on the site of the development and once the sales activities are over, the “show house” then doubles as a site office. For those who think it is inconvenient to go to the site, well, you can just view the model of the development in the real estate developer’s office downtown.
It breaks my heart when I see a “palace” built at -lightning speed being torn down in just a few months time. Some of these palaces are deliberately built off the site of the development, but in strategic locations to draw in crowds. Guess who absorbs the rental charge for that piece of land.
These “palaces” are really out of the ordinary, furnished to the brim with exotic furniture and the latest electronic gadgets and lighting, complete with fountains and gardens that resemble Neverland.
Imagine the waste, not to mention the electricity needed to light these “palaces” up at night. The materials that go into them are only minimally recycled or not at all — the glass and mirrors, used to project a high-class look, are smashed to smithereens and discarded; the wood fixtures are totally destroyed and none recycled; the marble and other tiles are thrown away.
In South Korea, the government is so obsessed with construction waste that developers must abide by laws on limiting waste and recycling as much construction material as possible.
This is just one strange example of how real estate is sold in Taiwan. Another unreasonable opportunity for developers to make more money is to factor in community space into the overall price of a unit. I see no sense in paying for floor space on the elevator landing, the elevator motor room, the staircases, the corridors, the attic, etc.
Is Taiwan taking us for a ride?
CHEW LEONG HONG
Sijhih, New Taipei City
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