Hsinchu County housing market shows growth

During the first six months of this year, the number of housing transactions around Taiwan dropped 2 percent year-on-year to 211,011, with 14 out of the 23 counties and cities islandwide experiencing negative growth compared with the same period of last year, the statistics show.

Among the nine counties and cities that saw housing transactions increase, Hsinchu County topped the list with growth of more than 30 percent, followed by Taipei City, which recorded a rise of 9.1 percent.

Chang Hsin-min, a marketing consultant with Era Real Estate, Taiwan, noted that in the past, Hsinchu County was not an important local housing market in Taiwan, recording only 2,000-3,000 transactions per year and lagging far behind neighboring Hsinchu City.

However, housing transactions in Hsinchu County have exceeded that of Hsinchu City since 2004, following the development of areas surrounding the Hsinchu county government headquarters in Jhubei and the construction of the high-speed rail system that includes a stop in Jhubei, Chang said.

With the launch of the rail system in 2007 significantly shortening the travel time to Taipei City and Taichung City, where housing prices are higher, many workers in hi-tech companies in the Hsinchu Science Park in Hsinchu City have opted to reside in Jhubei, he pointed out.

He predicted that housing transactions will remain brisk in Hsinchu County in the second half of this year, with the transaction volume for 2008 likely to surpass the 13,516 cases recorded in 2005 to hit a record high.

Subscribe to The China Post and save 25%. Click here

SharePrintEmail

Write a Comment

Enter your comments - 3000 characters max

Type in image code

Submit

 Receive China Post promos Respond to this email