Disclosure policy on property prices goes well with public: poll


CNA

TAIPEI — A new policy that requires sellers to disclose the actual prices at which they sell their houses has received highly positive reviews among potential homebuyers, according to the results of a survey released yesterday by the Consumers’ Foundation.

Among respondents with knowledge of the launch of the new system, 84 percent said the transaction information was a useful source for reference, and 86 percent said they would refer to the information before buying a home.

The respondents were divided, however, over whether the policy could help curbing increases in housing prices, with 43 percent saying it would be “effective” and another 36 percent calling it “ineffective.”

As many as 96 percent of people think housing prices in Taiwan remain high at present. Only 1 percent said they were low, and 3 percent said they were at an appropriate level.

Under the price registration system implemented last August, the actual prices of property transactions must be reported to the Ministry of the Interior within 30 days of the completion of any transaction.

The prices and other information related to the transaction are then posted on a Interior Ministry website open to the public.

The survey was conducted among 913 people aged 25-65 between late February and early March. The foundation did not calculate a margin of error.