Luxury apartments in Modesty complex sell for NT$100 mil.
By John Liu, The China Post Thursday, July 17, 2014, 12:01 am TWN
TAIPEI, Taiwan -- Up to 19 units in luxury apartment complex Modesty Home (謙岳), located in New Taipei City, were sold at a price tag of over NT$100 million, the latest transaction data shows.
The nation's real estate transaction database was updated by the Ministry of the Interior yesterday. A number of upscale apartments' price tags were revealed.
Trading prices in Modesty Home ranged between NT$113 million and NT$153 million, with unit price ranged between NT$695,000 and NT$894,000 per ping (3.3057 square meter). With the latest data, Modesty Home in Banqiao District has become the de facto luxury community of New Taipei City.
Since lines of the Taiwan High Speed Rail, Taiwan Railways, Taipei Metro and the National Freeway Bureau all pass through Banqiao, the district has been under the spotlight in the real estate market. A special commercial zone in Banqiao boasts even greater convenience, and its housing price has almost matched those in Taipei.
Modesty Home Further Proves Banqiao's Value
Modesty Home is close to the Mega City shopping mall. There are also free shuttles going to the nearby Global Mall, providing residents with easy access to their everyday needs.
Modesty Home has a total of 26 floors, and most units have large floor plans. Few of its units are ever put onto the market, and if they are, unit price usually tops NT$1 million per ping, according to local realtors.
Modesty Home provides great privacy to its residents, boasts delicate interior design and beautiful gardens, along with the exhibiting of various art pieces. With all these deluxe features, its price is much more affordable when compared with other luxury apartments in Taipei City.
An apartment unit in Bridge Upto Zenith A+ (橋峰A+) in Banqiao was sold at NT$907,000 per ping, which made it the then most expensive luxury building complex in New Taipei City. Recently disclosed transaction data from Modesty Home further proves Banqiao's position.
High-Ticket Transaction in Taipei City
The latest data shows that one apartment unit changed hands in each of Taipei's The Royal Castle (皇翔御琚) and The Palace (帝寶).
The unit in The Royal Castle was traded at NT$584 million, at NT$2.9 million per ping. The numbers did not break records.
The unit in The Palace was traded at NT$447 million, at NT$2.177 million per ping. The figures are also in the market price range.
As the government launched more stringent tax collection and monitoring measures, transactions of upscale apartments have declined over the past year, realtors pointed out.
High-tickets sales are just exceptions in the housing market. Most transaction prices fall between NT$5 million and NT$20 million, making up 58 percent of total trading in May, and growing 4.2 percentage points from the previous month.
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