August housing deals defy expectations

NO GHOSTLY CONCERN: Buyers who might have decided to wait during Ghost Month in prior years were more willing to act this year, with Taipei seeing the most demand

Taipei Times
Date: Sep 01, 2020
By: Crystal Hsu / Staff reporter

A couple walk along a path near the Keelung River at sunset on Aug. 6, with part of Taipei’s skyline behind them.
Photo: Ann Wang, Reuters

Housing transactions last month soared from a year earlier, although the deals held steady compared with July’s, major property brokers said yesterday, attributing the results to real demand and low interest rates.

Last month’s showings came even though Ghost Month started on Aug. 19 and is to last through Sept. 16. Taiwanese tend to avoid buying properties during the annual lunar Ghost Month, which is considered inauspicious for completing real-estate transactions, business openings, getting married and many other activities.

Evertrust Rehouse Co (永慶房屋), the nation’s largest real-estate broker by the number of offices, said its tallies showed a 58 percent spike in property deals nationwide, as people regained confidence in the property market given that Taiwan appears to have the COVID-19 outbreak well under control.

“Real demand underpinned 60 to 70 percent of the deals,” Evertrust Rehouse spokesman Jay Hsieh (謝志傑) said, adding that investment and asset allocation needs also contributed 20 percent after staying on the sidelines for several years.    [FULL  STORY]

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