Taipei real estate prices continue to rise in Feb.

The average real estate price in the region rose to NT$304,000 per ping for transactions in February, up 3 percent over the figure for the previous month, according to the tallies.

A ping is a traditional Chinese unit of measure that is equivalent to 3.3 square meters.

In Taipei City, real estate prices rose 2.5 percent month-on-month to NT$363,000 per ping, while in Taipei County, prices increased 3.5 percent to NT$225,000 per ping.

Although the overall number of real estate transactions in February was down over the previous month due to the Chinese New Year break, the average number of transactions per working day actually increased by about 10 percent, according to the tallies.

Yeh Ling-chi, general manager of Yungching Real Estate Agency, said the political stability in the wake of January’s legislative elections, as well as stable cross-Taiwan Strait relations and continuing increases in the local stock market were all key factors contributing to strengthening home buyers’ confidence and boosting real estate prices.

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