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Apartments near MRT stations see prices soar

TAIPEI, Taiwan — Prices of apartments built on top of or near MRT stations rose by the biggest margin in New Taipei City over the past year, real estate analysts pointed out yesterday.

A survey released by Taiwan Realty found from the first quarter of 2010 to the first quarter of 2011, the three MRT apartments with the biggest price increases were in Yonghe and Xindian Districts, all in New Taipei City, formerly Taipei County before a municipal upgrade.

The apartment with the biggest increase was The Beautiful Yongan, on top of MRT Yongan Market Station in Yonghe District. The unit price rose from NT$460,000 a ping to NT$480,000, or a rise of 23.68 percent. One ping is 3.3 square meters.

The place with the second biggest price increase was New Heaven and Earth, on top of Dapinglin Station in Xindian. Its unit price per ping rose from NT$520,000 to NT$580,000, a growth of 22.22 percent. The building with the third biggest increase was Xindian City Office, near the MRT station with the same name. Its unit price per ping rose from NT$470,000 to NT$530,000, a growth of 20.48 percent.

According to Chiu Tai-hsuan, researcher with Taiwan Realty, MRT apartments in the Greater Taipei Area grew by 11.33 percent over the past year. Prices for MRT apartments in Taipei City rose by a smaller margin due to a strong surge in the past, he said.

For example, Jinghuayuan, near the future Dongmen Station, was sold for NT$950,000 a ping in the first quarter of 2010. The price is now NT$1 million a ping, a rise of just 5.26 percent.

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