By: Wei Shu and Frances Huang
Taipei, Dec. 25 (CNA) Transactions of luxury residential housing in Taipei for 2016 are expected to fall more than 50 percent from the previous year amid lingering caution over the local property market, according to H&B Business Group (住商不動產).
H&B said that so far this year, transactions in 2016 of luxury homes in Taipei — the most closely watched property market in Taiwan — dropped sharply from 314 units for the whole of 2015 to 152.
With the current year approaching an end, transactions of luxury homes carrying a price tag of no less than NT$80 million (US$2.5 million) in Taipei for the whole of 2016 are expected to be more than halved from a year earlier.
Hsu Chia-hsin (徐佳馨), head of research at H&B, said that recent efforts by the government to curb skyrocketing home prices in the local market have depressed the luxury home market in Taipei. [FULL STORY]