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June 29, 2017

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Luzhou Line property value rises through the roof

Properties along the mass rapid transit (MRT) system's Luzhou Line have seen their prices skyrocket, now that the line is expected to begin operation soon, real estate experts said.

The Luzhou Line, an offshoot of the MRT Xinzhuang Line, will open by November at the latest, the local United Daily News reported yesterday. With the opening of the line, it will take 18 minutes to commute from its last stop, Luzhou, to Taipei Railway Station.

The orange line will begin from Luzhou and end at Zhongxiao Xinsheng at its initial stage, in the process passing through such destinations as Minquan West Road and Xingtian Temple. The line will eventually join the Zhonghe Line linking Guting and Nanshijiao.

According to Chiang Lung-ming, broker with Chinatrust Real Estate Co., properties along Luzhou Line have seen prices gone up by 36 percent since 2008. Residential units near Sanchong Elementary School, the first stop of the line in Taipei County, have seen their prices shoot up by 47 to 49 percent.

Houses in Sanchong and Luzhou Townships saw sales surge 18 percent in the second quarter from the first, Chiang said, adding sales dropped to 1,173 in July due to the central bank's credit control measure, yet the number was still above average.

Meanwhile, he said new homes near Daqiao Elementary School, the first stop of the line in Taipei City, are now sold for NT$700,000 to NT$750,000 a ping, due to the soon opening of the rail and the Taipei Flora Expo. Each ping is 3.3 square meters.

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