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Property sales in Taiwan down in June

Property sales in Taiwan down in June

Taipei, June 29 (CNA) Home sales in Taiwan in June were down 10 percent from the previous month because of bad weather, tightened mortgage conditions for buyers of high-end units and the ongoing European debt crisis, real estate agent Sinyi Realty Inc. said Friday. Stanley Su, a senior researcher at Sinyi Realty, said the debt worries dampened home buyers' confidence while torrential rains brought by two storms and a frontal system from mid- to late June reduced the number of days people could go house-hunting. Potential buyers of more expensive units were also put off by a new regulation limiting them to borrowing a maximum of 60 percent of the purchase price on houses in Taipei and New Taipei priced at NT$80 million (US$2.68 million) or above, Su said. Despite these negative factors, however, sales of residential units in some larger metropolitan areas, such as Hsinchu and parts of Taipei, remained steady, he said. Hsu Wei-hung, the director of Sinyi Realty's branch in Wenshan District in Taipei, said sales did not fall in the area despite flooding there during one of the storms. Potential home buyers actually gained confidence, he said, because they were able to clearly see which areas were vulnerable to flooding and could expect the city government to solve the flooding problem in the future because of the attention it got. Transaction prices in northern Taiwan remained in a high range in June, Su said, averaging NT$180,300 per square meter in Taipei and NT$91,700 per square meter in New Taipei. Looking ahead to July, Su predicted that sales volume would rebound slightly in the first half of the month because of expectations that concerns over the eurozone's debt problems and the restrictive loan policy would wane. (By Wei Shu and Kendra Lin)


Updated : 2021-04-18 23:53 GMT+08:00