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Housing market transaction volume forecast to decline

TAIPEI -- The transaction volume of Taiwan's housing market for 2014 will drop to 2012 levels after seeing double-digit growth last year, a local real estate agent forecast yesterday.

Housing transactions across Taiwan will likely fall to 330,000 this year as capital flows from the real estate market to the stock market, said H.C. Chen, general manager of H and B Business Group's H and B Realty Franchise System Head Office.

"It's like this when we have an election year, when a lot of people are less willing to invest in the housing market," he said on the sidelines of his company's 35th anniversary ceremony in Taipei.

Prices, however, will stay at the same levels as last year or even rise slightly, Chen predicted.

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