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May 23, 2017

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Government measures produce success in curbing home prices

TAIPEI, Taiwan --Transaction statistics published recently show that sales of high-end homes dwindled to 151 units in the first quarter of this year.

Statistics show that sales of high-end homes, classified as those priced at greater than NT$80 million for Taipei City-based properties and greater than NT$50 million for other regions, recorded 151 transactions in the first quarter of this year. The most recent figures represent a 74-percent quarter-on-quarter decline in high-end Taipei City properties from the 572 units sold in the previous period, and a 64 percent quarter-on-quarter decline for the rest of Taiwan from the 416 units sold in the fourth quarter of last year.

Real estate agencies remarked that amid the government's numerous policies, including ramped up tax obligations levied against luxury homes, anti-hoarding measures and increased efforts to audit renters of high-cost commercial properties in coveted shopping districts, nothing has yet managed to cool off the housing market. While these measures may not deter more deep-pocketed speculators, they are effective in increasing the costs required for properties investments while limiting potential profits at the same time, said real estate agencies, adding that as a result many speculators have been observed to take a more tentative stance.

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