Hong Kong real estate investors bring millions to Taiwan: report

One Hong Kong investor came to Taiwan shortly after the Jan. 12 legislative polls, bringing NT$300 million in cash, while two others came yesterday, bringing NT$400 million each, the paper reported, citing Yeh Kuo-hua, head of Yungching Realty’s luxury residence department.

“The one that brought NT$300 million has already purchased a piece of property for business use worth NT$80 million,” Yeh said. “He’s now looking for a luxury residential unit in some of Taipei’s most expensive areas.”

“The two that came yesterday were interested in commercial and office property, yet they do not rule out buying luxury houses, too,” he added. “Both stressed they could bring more money if necessary.”

Yeh said Hong Kong investors had taken an interest in Taiwan property even before the Jan. 12 polls. Yet Kuomintang’s landslide victory in the elections further boosted their confidence in rising value of Taiwan property, given prospects for more frequent exchanges with China.

Liao Pen-sheng, general manager of Yungching, said Taiwan property now is like Hong Kong property in 2003, which was sought after by mainland investors after several deregulation measures were put in place. The end result was a surge in Hong Kong property value. Some luxury residences saw their value surge three-fold, Liao said.

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