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Taipei named ninth-top Asian city for real estate investment

Taipei named ninth-top Asian city for real estate investment

Taipei, Jan. 21 (CNA) Taipei is the ninth-top city in the Asia-Pacific region for 2013 in terms of real estate investment profitability, according to a recent survey published by Pricewaterhouse Coopers Taiwan (PwC). PwC, which provides business advisory services to international companies, released the survey results along with the Urban Land Institute (ULI). It polled over 400 experts in the real estate industry on their forecasts for the markets in 22 cities in the region. According to the Emerging Trends in Real Estate Asia-Pacific 2013, Taipei also moved up from 12th place last year to eighth in terms of development. The report said the market in Taipei is promising, as Chinese investors have been looking overseas for capital investment since Beijing introduced measures to cool China's property sector. With a low base rate creating good yield spreads and local life insurance companies also piling into the market, excessive liquidity has caused transaction volume in Taipei to balloon, it said. Sales rose 78 percent year-on-year in the first half of 2012 in the commercial sector as a result of the growing number of tourists from China, the report said. Jakarta, Indonesia's capital, topped the rankings for both investment and development for the first time, showing that markets outside core cities are increasingly popular among investors, according to the survey. Shanghai and Singapore took second and third places in investment and fourth and third in development, respectively. Second-tier Chinese cities such as Chongqing, Tianjin and Shenyang took eighth place in investment terms and second in development, as the return on investment is higher than other cities in emerging markets, the report said. Although the government is planning to relax laws governing financial firms investing overseas, investors are advised to take into account factors such as real estate markets, management regulations and taxes before making their moves, said Wu Wei-tai, deputy chief operating officer of PwC. (By Wu Chin-chun and Maia Huang)


Updated : 2021-07-25 12:19 GMT+08:00