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Survey says price of new home in Taipei City is no food or water for 29 years

A double-income couple seeking to get a 35-ping, three-bedroom new home in Taipei needs to go without food and water for 29 years, according to My Housing Magazine's latest survey released yesterday. Each ping is 3.3 square meters.

The figure for New Taipei is 13 years, the magazine said.

The numbers were part of My Housing's home purchase misery index, targeting double-income married couples in Taipei and New Taipei, based on home prices in the July-September period.

In Taipei, the index stood at 28.8, meaning people need to go without food and water for 28.8 years to purchase a 35-ping, three-bedroom new home.

The figure was about 2.1 times that for New Taipei, where people need to go without food and water for 13.5 years.

By Taipei districts, the misery index is the highest in Xinyi District, where people need to go without food and water for 50.1 years, which was followed by 48.9 years for Daan District and 43.9 years for Songshan District.

The district with the lowest misery index was Wenshan, at 21.

For New Taipei, the district with the highest misery index was Yonghe, at 19.5.

The misery index is derived by dividing the average price of a 35-ping, three-bedroom new house by the average income of double-income families with married couples between 30 and 34 years of age.

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