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New Taipei transactions surge 9 percent over 10 months

TAIPEI, Taiwan -- Property transactions nationwide have heated up since January after some five months of enforcement of real-price registration, with New Taipei City seeing largest annual growth of 9.21 percent from August 2012 to May 2013.

Although property transactions around Taiwan have taken a beating since the real-price registration system came into effect in August, the market has bottomed out since January, according to the transaction index compiled by Ministry of the Interior.

Readings showed that transactions in five major metropolitans areas in Taiwan made a rebound of 3 percent to 7 percent from August to May.

New Taipei made the biggest leap in 10 months to May with total transactions of 60,927 units, achieving a growth rate of 8.21 percent, while Taichung and Taoyuan saw transactions of 39,335 units and 39,198 units, up 5.89 percent and 3.06 percent respectively. Kaohsiung transactions of the same period increased 7.85 percent to 34,246 units.

Transaction growth in New Taipei's Linkou District was the highest, with growth of 4.95 percent in the 10 months to May.

Taipei transactions dropped the most, coming in at fifth place with only 32,840 units, a decline of 1.17 percent. Property transactions nationwide in the 10 months to May posted 285,062 units, a jump of 4.95 percent.

Although Taipei was the only city to register a drop, the decline has actually started to abate since January, Taiwan Realty Co. said.

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