The China Post
Date: December 15, 2016
By: CNA
TAIPEI — Taiwan’s property market is currently undergoing a correction and the capital gains tax
Downtown Taipei is seen in this photo taken on Wednesday, Dec. 14. Taiwan’s property market is currently undergoing a correction and the capital gains tax imposed on housing sales could continue to impact the home market, Singapore-based DBS Group said on Wednesday. (CNA)
imposed on housing sales could continue to impact the home market, although the local economy has showed signs of improvement, Singapore-based DBS Group said on Wednesday.
Over the longer term, the local property market is expected to have a soft landing after the current correction, the Singapore banking group added.
Ma Tieying (馬鐵英) , an economist at DBS Research, said that after 10 years of climbing, home prices in Taiwan hit a peak in 2014 before trending lower in 2015, since when the economy slowed down.
The local property market, Ma said, has also been impacted by the earlier efforts of the Central Bank of the Republic of China to tighten credit controls on home purchases and a tax reform introduced at the beginning of this year. She said there was no question Taiwan’s property market has entered a period of correction. [FULL STORY]
