Analysts express upbeat sentiment for real estate
The China Post news staffTAIPEI, Taiwan -- Taiwan's housing industry looks upbeat this year, on the back of a global economic recovery and abundant cash in the market, experts said yesterday.
January 2, 2013, 12:18 am TWN
According to experts, the global economy has picked up steam since the fourth quarter of last year as the debt situation in Europe waned. Political uncertainties dissipated after the U.S. presidential election in November and a transition of power in China.
With eased-up monetary policies to be launched by countries around the world, including another round of quantitative easing measures by the U.S. Federal Reserve, experts expect the global economy to achieve higher growth this year.
As an export-driven economy, Taiwan will benefit from growth in rest of the world. In fact, the Council for Economic Planning and Development on Dec. 28 issued a yellow-blue signal for Taiwan. While the signal represents sluggishness, it was the third month in a row Taiwan has received the signal, indicating that a recovery is underway.
A recovery bodes well for real estate, which is set to enjoy a rebound in the first half of 2013, predicted Lai Cheng-yi, chairman of the Shining Group.
According to him, developers are expected to roll out NT$800 billion worth of new constructions this year, of which NT$30 billion will come from Shining, which is expected to build six to eight properties in northern Taiwan.
“The real estate industry will definitely experience higher growth this year compared to 2012,” he said.