Date: Dec 22, 2016
By: Crystal Hsu / Staff reporter
The housing market is likely to pick up mildly next year on the back of favorable policies, but prices might continue to fall due to heavy selling pressure, Evertrust Rehouse Co (永慶房屋) said yesterday.
“Housing transactions might rise between 3 percent and 5 percent next year, from a likely record low of 245,000 units this year, as the government has signaled plans to facilitate urban renewal projects,” Evertrust general manager Yeh Ling-chi (葉凌棋) told a news conference in Taipei.
Policymakers have suggested allowing owners of older properties to gain more space if they agree to participate in urban renewal projects, as 45 percent of existing homes nationwide are more than 30 years old, raising safety concerns.
The incentives could also include holding tax discounts for homes intended for self-occupancy and favorable floor area ratios to encourage homeowners and developers to participate in urban renewal, Ministry of the Interior officials have said. [FULL STORY]