DOLDRUMS:The market was mired in ‘pessimistic sentiment last quarter,’ but sales could pick up this quarter as rates drop and credit controls are lifted, an analyst said
Date: Apr 04, 2016
By: Crystal Hsu / Staff reporter
Existing home transactions in the nation’s major cities contracted 32.6 percent in the first quarter year-on-year as expectations of price declines, holiday disruptions and soil liquefaction concerns sank the market to an 11-year low, government data showed.
There were 32,148 housing deals during the January-to-March period in the six special municipalities, local government data showed.
“The market remained enveloped in pessimistic sentiment last quarter, but the situation might improve this quarter with lower interest rates and lifting of credit controls,” Umei Realty Co (優美地產) analyst Yeh Li-ming (葉立敏) said in a report. [FULL STORY]