Last year, prices for luxury residences in Taiwan skyrocketed, with some price tags reaching over NT$1 million per ping (36 square feet).

Overall, in 2006 there was an increase of 85 percent in transaction values and an average of 10 percent increase per residential unit compared to the year before, said Wu Ming-hung, assistant manager of Sinyi Realty’s luxury residences division.

The second quarter of 2006 saw a transaction value increase of 120 percent compared to the same time frame of the year before, after cross-strait relations showed signs of improvement because of talks between the Kuomintang and Chinese communists, according to reports by Sinyi Realty.

Transaction values increased 156 percent year-on-year in the third quarter despite political turmoil, continued the report.

The most expensive residences are in northern Taiwan, most of which are located in Taipei’s Tienmu, Yangmingshan, Xinyi, and Daan districts.

Market analysts expect the current trend of investing in luxury residences to continue to grow.

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