HOLDING OUT: Sellers struggling to stay afloat and buyers waiting for price corrections remain on the sidelines to see how the COVID-19 crisis turns out for the property market
Date: Apr 03, 2020
By: Crystal Hsu / Staff reporter
Commercial property transactions last quarter totaled NT$12.9 billion (US$425.63 million), declining 60 percent from the same period last year, as buyers turned conservative amid the COVID-19 pandemic, the latest data released by property brokers showed.
Industrial properties accounted for 80 percent of transactions, followed by offices at NT$1.34 billion, Colliers International Taiwan (高力國際) said in a quarterly survey yesterday.
However, Cushman & Wakefield Taiwan (戴德梁行) data showed that overall deals totaled NT$9.51 billion, representing a 61 percent retreat.
“The market might see a panic sell-off if the outbreak persists beyond this quarter,” Cushman & Wakefield Taiwan general manager Billy Yen (顏炳立) told an online news briefing last week.