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17-year low in March property sales

17-year low in March property sales

Taipei, April 5 (CNA) Transactions of residential and commercial properties in Taiwan's six major municipalities all fell in March amid government rfforts to curb housing prices, according to statistics compiled by the Ministry of the Interior.
The March transaction number in Taipei, New Taipei, Taoyuan, Taichung, Tainan and Kaohsiung totaled 16,485, up by 37.3 percent from February but down by 21.1 percent from a year earlier, ministry tallies show.
New Taipei and Taoyuan in the north saw 3,815 and 2,846 units transfered for the month, respectively, a year-on-year decrease of 26 percent and 24 percent, which is a new low for New Taipei since 1999, when record-keeping began, and a new low for Taoyuan since 2009. Taipei saw 2,179 units transferred for the month, down by 20.9 percent from the previous year. Meanwhile, a total of 3,233 units changed hands in Taichung, central Taiwan, representing an annual decline of 19.7 percent. In southern Taiwan, Tainan and Kaohsiung saw housing unit transactions drop by 13.7 percent and 16.2 percent to 1,515 and 2,897 units, respectively, in March, both of which are the lowest monthly levels since 2009.
Huang Shu-wei (???), a manager of Yung Ching Realty Group's (??????) research division, said that although the number of residential and commercial properties transferred in the six municipalities rose in March from February, which had fewer work days due to the Lunar New Year, they are still some 20 percent lower compared with numbers recorded a year earlier.
Northern Taiwan has been the most affected, with Taoyuan, New Taipei and Taipei seeing the largest falls of more than 20 percent year-on-year, Huang observed.
According to Huang, buying interest in northern Taiwan will resume only if a proposed single property-and-land tax clears the Legislative Yuan quicklfy. The uncertainty over the tax has dragged down the market since the second half of last year.
(By Wei Shu and Kuo Chung-han)


Updated : 2021-09-24 07:45 GMT+08:00