Housing sales up 30 percent in March vs. Dec.: realtors

By Ted Chen ,The China Post

TAIPEI, Taiwan — Housing sales volume in Taipei and New Taipei City surged 30 percent in March, compared to figures from last December, a major real estate group announced.

Demand for housing is rising, with over 60 percent of the public anticipating prices to rise this quarter, as opposed to the 24 percent recorded in the previous quarter, representing a new high since the slump seen in 2011 following announcements that a luxury tax was to be imposed, according to analysis conducted by the Yongching Real Estate Group (永慶房屋).

Taoyuan housing prices saw a marked increase, with over 65 percent of residents in the area anticipating property prices in the region to rise, while over 45 percent of the public expressed that they are likely to purchase properties by the end of the year, according to the company’s study. Citing a turn toward optimism from the public, as the economy begins to show signs of recovery, the group indicated that they are anticipating property prices to continue their gradual climb well past the second quarter.

The company attributed the rising trend in real estate to the release of capital, as its availably has been the sector’s primary driver. The company indicated that a multitude of factors contributed to the availability of capital, including an increase of investment capital from China, the asset restructuring of life insurance carriers, loosened regulations on developments and the public’s favoring of purchasing properties for wealth management.

However, the company indicated that shifts in policies both local and international may cause interest rates to rise again, and advised the public to use credit with discretion, and avoid purchasing properties in areas rife with speculation.