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June 26, 2017

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Taipei boasts world's 2nd most expensive property sale

TAIPEI, Taiwan -- A recent survey showed that the lump sum of the world's top 10 luxury property transactions reached US$264 million in 2013, with Taipei in second place preceded by Colorado and followed by Singapore.

Sotheby's International Realty published the 2013 ranking of worldwide luxury property market on Wednesday.

The luxury real estate brokerage company said that the Dun Feng (敦峰) luxury property complex, developed by Taiwan-listed real estate developer Chainqui Construction Development (全坤建設) and completed in 1990, took the number two spot among the world's top 10 luxury housing properties in 2013.

Dun Feng sits on Dunhua South Road in Da'an District in Taipei, home to Taipei's most expensive residential real estate. These luxury homes, clustered around the tree-lined Dunhua South Road, Anhe Road and Ren'ai Road areas, are also known as the East District.

As indicated by Sotheby's International's report, the total transaction price of the Dun Feng shop front alongside the main road was valued at NT$920 million (US$30.38 million), pushing the deal to second place in the rankings of the world's most expensive luxury property.

Chainqui Construction's official website showed that Dun Feng is a multifunctional complex 347.11 square meters in area size with 9 floors above the five basement levels and 24 apartment units.

Yangmingshan Luxury Homes Said to Have Great Potential

Taiwan Sotheby's International Realty yesterday told local media that those areas in Taiwan with the greatest property value increment potential include Yangmingshan — a national park just outside of Taipei, New York and Sydney. The realty brokerage added that Yangmingshan actually was the number one destination which attracted inquiries from global buyers, while New York and Sydney are the favorite spots for Asian property seekers with investors' visas.

Sotheby's ranking also showed that the world's most expensive luxury property deal took place in Snowmass Village, Colorado. According to foreign news wires, a 204-acre ranch once owned by Hollywood actor Michael Douglas in the Wildcat subdivision near Snowmass Village, Colorado broke local records when it closed on Sept. 26, 2013 for US$44 million.

Ranking third behind Taipei, a family estate in Sydney saw a transaction price of US$28.38 million.

According to Sotheby's archive, the estate sits on approximately 2,147 square meters of blue-ribbon land with northerly harbor views and features a tennis court, pool and 18-car garage, in addition to a five-bedroom mansion, separate one-bedroom penthouse, two-bedroom guest apartment and two separate one-bedroom guest/staff apartments.

Sotheby's International Realty is a luxury real estate brand founded in 1976 by the Sotheby's Auction House. Sotheby's International Realty operates as a franchise focusing on brokering and marketing of luxury residential real estate. As of 2013, the network had nearly 14,000 sales associates located in approximately 680 offices in 49 countries and territories.

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