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National housing market transaction volume expected to drop

TAIPEI -- Housing transactions across Taiwan will likely drop from 2013 levels as capital flows from the real estate market to the stock market, though prices are expected to stay at the same levels, a local researcher forecast Friday.

The housing market, including luxury homes, will see signs of unrest in 2014, with the total transaction volume sliding 10 percent this year, predicted Arisa Liu, an associate research fellow at the Taiwan Institute of Economic Research, a leading think tank.

The slide will be fed by a high comparison base in 2013 and tougher taxes on capital gains from luxury homes, she said.

Although there is market differentiation, luxury homes are indicators and have influence over the whole housing market, she said.

The Ministry of Finance announced a day earlier that houses sold for more than NT$80 million (US$2.65 million) in Taipei and New Taipei and NT$50 million in other localities would be taxed at a rate of 15 percent of actual sales price if information about the cost cannot be provided.

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