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Sinyi Realty sees property market revival next year

Sinyi Realty sees property market revival next year

Taiwan's sluggish property market might see an increase in transaction volume next year as real estate prices hit rock bottom, an official with one of the country's largest residential and commercial real estate firms said yesterday.
Low-interest rates and more flexible mortgage packages would also entice buyers to shop for real estate, said Victor Chang, a marketing executive with Sinyi Realty.
"Property prices have been plummeting these past 12 years," Chang said. "We expect it to hit rock bottom next year, making housing in Taiwan more affordable."
The official said there are more than a million vacant apartment units in Taiwan, or a vacancy rate of 17.6 percent.
Despite an economic recession that forced potential homeowners to hold on to their dollars, Sinyi Realty said it was launching an expensive corporate make-over to reflect its increased focus on services.
The NT$210 million-campaign would include a new corporate image and logo, and refurbished branches.
"Over the last 21 years, we have transformed Sinyi into the real estate industry leader by offering innovative services to our customers such as design, financing, and refurbishment," company chairman Chou Chun-chi said. The real estate firm is turning 21 this year.
"We are also upgrading our corporate image and branch offices so that when you walk in, you will feel like you are in a five-star hotel ?and get the same treatment."
The company was also planning on opening over 100 outlets in China next year, expanding its business from Shanghai to include Soochow, Fujian, and Wuhan. Currently, Sinyi has 33 branches in the mainland.
Chou added that an industry deregulation would help revive Taiwan's soft property market.
"By creating a humanistic, open, service-oriented society, Taiwanese will be encouraged to keep their roots in Taiwan while pursuing business ventures around the world," he said.
"Increased foreign investment will also come if we make Taiwan more service-oriented."
The executive said Sinyi was carrying out a five-point strategy to stay ahead of the pack.
"Cross-industry training, five-star service, zero complaint rate, integrated estate and living services, and the introduction of wireless agents," he said. "The new corporate identity system will reflect this action plan."
The property firm said it would unveil its new logo and first flagship store early next month.


Updated : 2021-08-03 19:04 GMT+08:00