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Housing market to be flooded in September

TAIPEI, Taiwan -- Real estate developers will roll out new housing units onto the market in an amount totaling NT$303.5 billion this year, reaching a new record, according to a report released by housing magazine HouseFun (好房雜誌).

As the government introduces more measures to suppress surging housing prices, the magazine forecasts that starting at the end of September, construction companies will put even more properties onto the market.

With older housing units that are already on the market, the new wave of construction is bound to put more pressure on the real estate market, said analysts.

According to HouseFun, starting at the end of September, up to 81 construction projects with NT$1 billion in value each, will be put onto the market.

The magazine says that there are about 50 signature construction projects in Taiwan, eight of which are located in Taipei City, 16 in New Taipei City, five in Taoyuan, seven in Taichung and another seven in Kaohsiung.

Sept. 28 is locally considered a watershed date. The date marks the end of summer vacation and also the end of ghost month in the Lunar year. As such, housing transactions usually pick up after this day.

HouseFun's Ni Tzu-jen (倪子仁) said that the new wave of construction is like an "arrow on the bowstring" — bound to happen.

Han Xiang Development (漢翔建設) is rolling out most properties among real estate developers. Up to 30 billion worth of properties were rolled out by the company in Tamsui District and Xindian District.

Hontai Life (宏泰人壽), Huang Hsiang Construction Corp. (皇翔建設) and Precious Jade Construction (璞真建設) are also rolling out construction projects that are worth more than NT$10 billion in value.

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