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Updated Saturday, February 6, 2010 2:05 pm TWN, The China Post news staff

Hsinchu residents lead the nation in home-buying: poll

Hsinchu City had the most people buying homes last year in the whole nation, according to a survey released by Sinyi Realty, yesterday.

The survey published each city and county's ratio of total home purchases in 2009 to total households in the region.

According to the survey, Hsinchu City had a home purchase ratio of 9.64 percent, meaning one in nearly every 10 households in the area purchased homes in 2009. The number put Hsinchu City at No. 1 in terms of the number of people buying homes.

Taichung City and Taipei County were ranked No. 2 and 3, with home purchase ratios of 8.63 percent and 7.76 percent, respectively.

According to Sinyi, there were several reasons for Hsinchu City's home market gaining momentum. First, an economic recovery prompted companies within the Hsinchu Science-based Industrial Park (HSIP) to hire more workers. Second, various district rezoning measures launched by the city lured more HSIP workers to Hsinchu City from Jhubei, Hsinchu County.

Taichung City, meanwhile, saw its home purchase ratio increase from 2008's 8.28 percent to last year's 8.63 percent. The nearby Taichung County, on the other hand, saw its ratio drop from 2008's 3.39 percent to last year's 3.28 percent.

A rise in home purchases in Taichung City occurred because of the construction of various industrial parks, which created more jobs to the city, Sinyi said.

“Basically, the more jobs a city or county has, the more home purchases there will be,” said Su Chi-jung, analyst with Sinyi.

The exception to that precept is Taipei City, whose home purchase ratio in 2009 was 6.56, a drop from 2008's 6.69 percent. Sinyi attributed this decline to extravagantly high home prices in Taipei.

Kaohsiung City and County both saw their home purchase ratios drop. Sinyi attributed this to a weak job market there, as well as Typhoon Morakot, which did significant damage to Kaohsiung in August last year.

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