Taipei 101 towers over Shin Kong for most valuable land
January 1, 2014, 12:15 am TWN
Taipei--Land values as assessed by local governments surged in Taiwan in 2013, with the Taipei 101 skyscraper replacing the Shin Kong Life Tower as the site of the country's most valuable land.
The average assessed value of land around Taiwan rose an average of 14.19 percent from the end of 2012, nearly double the 7.95 percent growth in value seen the previous year, according to the Ministry of the Interior's report on appraised land values for 2014, released Tuesday.
The report was a compilation of land value appraisals made by local governments around Taiwan earlier in December.
The government-assessed value of Taipei 101's land rose 17 percent from last year to NT$5.02 million (US$168,281) per ping (1 ping equals 3.3 square meters), or NT$1.52 million (US$51,000) per square meter.
That surpassed the assessed value of the Shin Kong Life Tower's land, which rose 13.8 percent to NT$4.99 million per ping.
The 51-story tower, located across from Taipei Railway Station, was the tallest building in Taiwan until 1997 and had carried the title of Taiwan's “King of Land” for 15 years in a row.