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July 25, 2017

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Northern, Southern home markets react differently to real-price registration system

The home markets of Northern and Southern Taiwan have given different performances a month after the implementation of the real-value home price registration system, reported brokerage firms yesterday.

In Greater Taipei, home sales fell by over 10 percent as a wait-and-see attitude was taken by people expecting home prices to fall as a result of the measure.

Sales meanwhile have increased in Southern Taiwan, especially in Kaohsiung City, where prices were low in the first place.

The numbers were released by several brokerage firms including Yung Ching Realty, Taiwan Realty and the H&B Group. According to the figures by Yung Ching, Taipei home sales narrowed by 15 percent in August compared to July, while a decline of 11 percent was seen in New Taipei City. The new registration measure took effect on Aug. 1.

In Taichung, sales remained mostly flat. In Kaohsiung, sales in August rose by 18 percent compared to July.

In terms of price, Taipei previously owned home prices averaged NT$540,000 a ping (3.3 square meters). The figure was NT$320,000 for New Taipei City and between NT$100,000 and NT$110,000 in Kaohsiung.

As for the outlook of the home market in the future, experts again gave disparate views. Industry players mostly expect sales to stabilize in September, after the initial impact of the new registration measure wanes.

Scholars, meanwhile, hold a different view. Chang Chin-er, professor with National Chengchi University, said the disclosure of registered home prices, which will be revealed in October, will prolong the correction in the market.

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