MRT condos to sell for NT$950,000 per ping
By Kathryn Chiu ,The China PostTAIPEI, Taiwan -- The highest base price of luxury condominiums near Mass Rapid Transit (MRT) station was seen yesterday in a document of public tender publicized by the Taipei City Government, amounting to NT$950,000 per ping (3.31 sq. meters).
August 23, 2013, 12:01 am TWN
The Department of Rapid Transit Systems under the Taipei City Government (台北市政府捷運工程局) yesterday posted starting prices of some 15 units of near-MRT luxury condominiums.
Based on seven units of “Greeness, MRT, Wealth” (藏富大樓) posted for public tender in the official document, United Evening News said that the average starting price per ping will be NT$950,000, topping all other near-MRT condominiums in Taipei.
“Greeness, MRT, Wealth” is a condominium project on section five of Nanking East Road and close to the future Nanking-Sanmin Station (南京三民站) on Taipei Metro's Songshan Line which is currently under construction.
According to the actual price registration system of the Ministry of the Interior, the transaction price per ping of the 15th floor of “Greeness, MRT, Wealth” is currently NT$1.07 million
Tseng Chin-der (曾進德) from Sinyi Realty's planning and research office told The China Post that the starting price is about 90 percent of the transaction price, making the bid quite attractive to bargain hunters.
According to the statement of the Department of Rapid Transit Systems, public tender for the seven units of “Greeness, MRT, Wealth” will take place on Oct. 1. The total transaction prices of the seven units range from NT$64.93 million to NT$73.67 million. The public tender is expected to generate total revenue of NT$500 million for the Department of Rapid Transit Systems.
The other eight units posted for public tender belong to “The Bond Eighteen” (信義18號), another near-MRT luxury condominium posted for public tender on Sept. 30.
The starting price per ping of “The Bond Eighteen” — parking areas excluded — is NT$950,000, while the total price amounts to NT$24.52 million to NT$36.16 million.
Sixteen units of “The Bond Eighteen” were posted for public tender last October; however the biddings of eight units among them failed.
Tseng Chin-der said the main reason behind the failure is the location of the project.
“The Bond Eighteen” is located near Muzha station, the terminal station of Muzha MRT Line, and is on the outskirts of the central business district in Muzha.
Although the market has seen the highest base price of near-MRT luxury condominiums, the base prices of both projects are lower than the actual transaction price due to luxury tax levied on the property market.
Additionally, the impact of eary QE exit of the US Federal Reserve(FED) will influence the final result of the public tender,Tseng Chin-der said.
This undated photo shows a luxury condominium project, “Greeness, MRT, Wealth” (藏富大樓), near the future Nanking-Sanmin MRT station (南京三民捷運站). Several units on the 14th floor of the ...