Total floor area for new buildings increases 60%

The China Post news staff

TAIPEI, Taiwan — The total floor area listed in construction licenses issued by the Ministry of the Interior went up 61.6 percent year-on-year in the first ten months of 2010 to 24.46 million square meters, the Directorate-General of Budget, Accounting and Statistic (DGBAS) pointed out. The total floor area of residential building construction licensed from January to October saw the highest rate of increase of 71.9 percent.

The sharp upward trend indicates a continual optimism in Taiwan’s property market despite the government’s increasing heavy handed measures to rein in real estate prices. In terms of user licenses issued in the first ten months of 2010, the total floor area listed reduced by 13.1 percent year-on-year to 19.01 million square meters, in which residential floor area dropped 8.7 percent, industrial and office floor area dropped 18.5 percent while service floor area drooped 18.1 percent.