By: Wei Shu and Frances Huang
Taipei, Feb. 27 (CNA) Transactions of residential and commercial property in Taiwan has fallen about 25 percent year-on-year so far in February due to fewer working days in the month, where the Lunar New Year holiday fell, according to market statistics.
Citing the data, H&B Business Group (住商不動產), one of Taiwan’s leading real estate sales agencies, said that February was a traditional slow season for the local property market, and even worse, a strong earthquake hitting southern Tainan earlier in the month prompted many home buyers to stay on the sidelines amid concerns over safety.
A 6.4-magnitude quake rocked southern Taiwan at 3:57 a.m. on Feb. 6, toppling more than 10 buildings, all in Tainan. The temblor killed a total of 117 in Tainan and 115 out of the 117 died in the rubble of the Weiguan Jinlong residential complex, which was said to be built with substandard materials and methods. [FULL STORY]