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April 29, 2017

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Priciest properties found along Dazhi road: MOI

TAIPEI, Taiwan -- Lequn Second Road (樂群二路) in Taipei's Dazhi District is home to the most expensive real estate in Taiwan, with surrounding property valued at an average NT$1.3 million per ping (3.3 square meters), according to the Ministry of the Interior's (MOI) actual transaction price database.

Jessica Hsu (徐佳馨), director of the research division at H&B Reality (住商不動產), said it is surprising that Lequn Second Road runs through the country's priciest property, as people usually do not take any notice of it, even though the environment is quiet and many homes situated along it enjoy views of Dazhi River.

The number of luxury home sales has dropped since the central bank implemented a rule in June 2012 that Greater Taipei homes priced at NT$80 million or more may not receive loans in excess of 60 percent of the home's value, Hsu said.

Calculating average transaction prices at this time is difficult because many well-known luxury estates have not changed hands since the regulation took effect, Hsu said. This is probably why Lequn Second Road is currently on top of the value list, she said.

Hsu added that according to the MOI's real estate transaction price database website, there has been only one transaction, at NT$1.91 million per ping, on Songzhi Road (松智路) in the upscale Xinyi District (信義區), thus the average price of the road cannot be calculated.

Since anti-speculative trading regulations requiring the registration of actual transaction prices took effect on Aug. 1, 2012, the database has accumulated over 140,000 transactions, the MOI said.

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