Taiwan housing transactions stabilize in Dec.: brokers
CNATAIPEI -- Housing transactions around Taiwan stabilized in December after hitting a low in August, when a new transparency policy took a toll on the housing market, local brokers said yesterday.
January 2, 2013, 12:18 am TWN
A composite index of Taiwan's housing market stood at 82 in December, 4 points higher than the previous month, according to H&B Housing Realty, which compiles the index.
The reading was also the second highest since June. The index spiked to 89 in October, two months after new rules took effect that required making public the actual prices of real estate transactions, the realtor said.
Prior to the new regulation, residential and commercial unit prices in Taiwan were not made public or reported to the government, creating an information gap that enabled speculators and developers to manipulate prices in the marketplace.
In December, the number of transactions grew 5 percent month-on-month, with the biggest jumps seen in Taoyuan (8.4 percent) and Kaohsiung (9.2 percent), the statistics showed.
Taiwan Realty Co. saw similar growth in the last month of 2012, and it also cited Taoyuan as showing the biggest increase among the country's cities and counties.
The housing market in the county has warmed up since September, when the government launched the Taoyuan Aerotropolis project — a massive infrastructure initiative centered around Taiwan Taoyuan International Airport and scheduled for completion in 2030 — Taiwan Realty manager Jack Chou said.
Prices and transaction volume in Taoyuan have grown steadily since then, Chou said.