Ghost Month puts brakes on home market recovery

CENTRAL LURE: A realty broker said that there has been an influx of interest in Taichung properties due to improving infrastructure and relative affordability

Taipei Times
Date: Sep 05, 2020
By: Crystal Hsu / Staff reporter

Housing transactions last month totaled 21,686 units in the six special municipalities, an 8.1 percent month-on-month fall as some buyers avoided closing deals in Ghost Month, while others demanded bigger price concessions, brokers said.

However, that was a 24.6 percent increase from August last year, a sign that the property market has emerged from disruptions caused by the COVID-19 pandemic, although the virus situation continues to cloud the economic scene at home and abroad.

“For better or worse, some Taiwanese stand by the tradition not to transact during Ghost Month, which is from Aug. 19 to Sept. 16 this year,” Sinyi Realty Inc (信義房屋) research manager Tseng Ching-der (曾敬德) said.

The tradition accounted for the sequential fall in transactions last month, while the year-on-year increase was due to pent-up demand after the pandemic was brought under control in Taiwan, Tseng said.    [FULL  STORY]

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