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Housing transactions in six major cities rebound in March

TAIPEI -- Housing transactions in six major cities in Taiwan rebounded in March from February as the number of working days returned to normal after the Lunar New Year holiday, statistics showed Tuesday.

According to Sinyi Realty Co., one of Taiwan's leading property agencies, housing transactions rose 30-70 percent in the first 25 days of March in the six major cities of Taipei, New Taipei, Taoyuan, Taichung, Tainan and Kaohsiung.

Kaohsiung showed the most significant gains in the 25-day period with housing transactions up almost 70 percent month-on-month, Sinyi's statistics indicated.

It was followed by New Taipei with a 53 percent increase, Taichung and Tainan each with a 40 percent rise, Taipei with 37.5 percent growth, and Taoyuan with an increase of 28.2 percent.

Although housing prices in Taipei were far higher than in the second largest city of Kaohsiung, there seemed to be greater buying interest in Kaohsiung, Sinyi analyst Tseng Ching-der said.

In Taipei, the mostly closely watched property market in Taiwan, housing transactions totaled NT$10 million to NT$20 million for the 25-day period, accounting for more than 42 percent of the total.

In New Taipei, housing transactions amounted to NT$7 million to NT$15 million, making up half of the total in the 25 day period, while in Taoyuan the figure was NT$7 million to NT$10 million, representing one-third of the total transactions.

The statistics showed housing transactions in Taichung at NT$7 million to NT$15 million for the 25-day period, about 40 percent of the total transactions.

In Kaohsiung, houses priced at NT$10 million or less accounted for about 75 percent of the total transactions in the city in the 25-day period, while in Tainan, houses valued at NT$7 million or less made up about 70 percent of the total transactions.

Tseng said transactions in the local property market will continue to grow at a mild pace in the upcoming months, with home prices likely to remain stable.

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