Property deals decline from Q3

‘YET TO STABILIZE’:DTZ real-estate appraisal director Charlie Yang said that it was premature to depict an increase in land deals as a recovery, because of a low base

Taipei Times
Date: Oct 05, 2016
By: Crystal Hsu / Staff reporter

Commercial property transactions totaled NT$10.5 billion (US$334.96 million) last quarter, shrinking 62.69 percent from the preceding quarter, as price differences widened between buyers and sellers, international property consultancy DTZ said yesterday.

“The stalemate is likely to persist for years, unless sellers are willing to make greater concessions,” DTZ Taiwan general manager Billy Yen (顏炳立) said, adding that buyers would not chase prices.

Price gaps broadened to 30 percent in the July-to-September period, leaving properties that offered 10 to 20 percent price cuts still unattractive, Yen said.

The property market is in a coma, with anemic transactions, while sellers who agree to show sufficient flexibility are likely to come out ahead, Yen said.     [FULL  STORY]

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