Real estate picked up steam in January: My Housing Magazine

For January, the trade publication gave a green signal indicating stability to Taiwan's real estate market, which had received for three months in a row a yellow-blue signal that symbolizes sluggishness.

“Usually there is a buying spree prior to the Lunar New Year break, and this year is no different,” said Ni Tsu-jen, researcher with My Housing.

This year's Lunar New Year break will begin on Feb. 9 and last nine days.

According to Ni, there were other positive factors that raised buyers' interest to enter the market. One of them was the upgrade of the status of Taoyuan County, which will soon become a special municipality like Taipei, New Taipei, Taichung, Tainan and Kaohsiung. Also the market got a further boost with the completion of various throughways that made cities and counties more accessible.

Among the gauges that measure the sentiment in real estate, visits to new home construction sites increased by 10 percent in January compared to December. Sales were the most noticeable for inexpensive homes, priced between NT$10 million and NT$15 million, in the following areas: Bade City, Pingzhen and Luzhu Townships of Taoyuan County; Wugu, Danshui and Sanchong Districts of New Taipei City; and certain areas of Taipei.

About NT$78.7 billion worth of new home constructions were launched in Greater Taipei, twice that for December, the magazine said.

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