Want China Times
Transactions of luxury residential properties in Taiwan’s five municipalities
decreased 50% on average in the first eight months of the year, with New Taipei recording the steepest decline of 67%, according to data released Sunday by a real estate company.
The decrease was due mainly to government policies that are aimed at reining in high-flying home prices, said Huang Shu-wei, a manager in the research department of Yung Ching Realty Group.
Other factors included growing caution among high-asset groups amid an economic slowdown, and uncertainty ahead of the Jan. 16 presidential and legislative elections, Huang said.
Under Taiwan regulations, luxury homes are defined as housing units valued at more than NT$70 million (US$2.17 million) in the capital Taipei, more than NT$60 million (US$1.8 million) in neighboring New Taipei, and over NT$40 million (US$1.2 million) in other areas. [FULL STORY]