Taipei home prices least affordable in two years
The China Post news staff
December 19, 2013, 12:10 am TWN
TAIPEI, Taiwan -- Home prices in Taipei are on average 14.7 times of average annual income, the highest in two years, according to the Construction and Planning Agency, Ministry of Interior (CPAMI).
The home price to income ratio in Taipei is the highest among the six major metropolitans in Taiwan. The mortgage to income ratio, the proportion of income used for mortgage payment, is 48.8 percent in Taipei.
Home prices all over Taiwan were on average 9.2 times to annual income, while the mortgage to income ratio is 33.7 percent.
Home prices in Taipei averaged NT$19.84 million in the third quarter, which is lower than the second quarter average of NT$20.05 million.
Island-wide, home purchase in area averaged 41.9 pings in the third quarter, with the total price of NT$9.608 million, resulting in the unit price of NT$241,000 per ping, which is an increase of 3.4 percent month-on-month and 2.6 percent year-on-year.