OUT OF REACH:Home prices were 9.24 times the average salary, meaning it would take nine years to buy a home if the purchaser bought nothing else, a report said
Date: Jul 17, 2017
By: Staff writer, with CNA
Urban land prices continued to fall as the local property market remained in the doldrums, with Taipei prices falling at the steepest rate, statistics released on Saturday by the Ministry of the Interior showed.
The urban land price index, an important measure of the local property market, fell 0.49 percent during the period from Oct. 1 last year to March 31 from the previous half-year, data from the ministry’s second semi-annual report showed.
An earlier report said that urban land prices dropped 0.35 percent from April 1 to Sept. 30 last year.
The latest drop was the steepest since 2010, the ministry said, adding that Taipei, the most closely watched property market in the nation, suffered the largest fall of 1.53 percent. [FULL STORY]