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May 23, 2017

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Home transaction prices site to debut today

A government website showing real transaction prices of properties will debut today, a milestone for Taiwan's real estate where a lack of price transparency had been criticized for years.

The first batch of 20,000 sales since August and their real deal-closing prices will be unveiled today, and the database will keep adding up, said Wang Ching-hsiu, deputy head of the Land Administrative Bureau under the Ministry of the Interior.

Experts mostly gave their approval for the system. "The difference between offering prices and final transaction prices had been kept secret from us for the longest time. Now, the emperor's new clothes will be revealed," said Chang Chin-er, professor with National Chengchi University, citing Hans Christian Andersen's famous story.

At a news conference hosted by Wang yesterday, she said the transaction data will be divided into three categories — namely typical properties, leased properties and pre-construction properties — for people to look up based on their needs.

The properties can be sorted by district, street name, type of property, price, area and transaction date, she said.

The website is only)

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