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Housing surplus problem most serious in north

TAIPEI, Taiwan -- A surplus in housing is common in parts of Northern Taiwan, especially in the Tamsui District, according to a report released by My Housing magazine yesterday.

About 66,000 housing units were completed in New Taipei City over the past 3.5 years. During this same period, about 16,400 units were finished in Taipei City. The number of units in New Taipei City is about four times greater than in Taipei City. However, the population of the former is only 1.5 times larger than the latter.

According to My Housing, the Tamsui District of New Taipei City had the most severe surplus issue. About 19,000 new units were completed to house about 6,700 new households moving into the area. In other words, the supply exceeds the demand by about 12,000 units.

Zhubei City in Hsinchu County ranked second in terms of housing supply. About 13,500 new housing units were put onto the market, while 6,800 new households moved into the area.

Zhongli City in Taoyuan County ranked third. About 13,200 housing units were constructed, while 7,100 new households moved into the city.

Hsinchu City, Taoyuan City and Bade City in Taoyuan County ranked fourth, fifth and sixth, respectively.

The surplus problem was not as severe in Taipei City, where around 16,400 new housing units were finished. There are currently over 1.03 million registered households in Taipei City.

My Housing pointed out that new housing was mostly centered in re-developed zones, where investors tend to acquire their properties. New measures launched by the government in the future to regulate speculative investment are likely to impact housing prices and alter demand and supply in the housing market from now on, My Housing said.

1 Comment
July 7, 2014    curtisakbar@
Yes, loads of empty homes at unreasonable prices. I saw a new build apartment in Sanchong the other day selling for over half a million USD. For that money, in the USA you could get a huge mansion type home in the suburbs or a country home in the UK.

Lands prices are ridiculous in Taiwan, especially in the urban areas.
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