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Taiwan's Kaohsiung home measuring 22-ping on market for nearly US$18 million

Homeowner will only accept gargantuan sum through one-time lump payment

Urban landscape view of a scene of Kaohsiung City.

Urban landscape view of a scene of Kaohsiung City. (CNA photo)

TAIPEI (Taiwan News) — A homeowner has put his 22-ping property (one ping equals 3.3 square meters) up for sale in Kaoshiung for an astonishing NT$500 million (US$17.98 million).

The homeowner posted on social media stating his standalone five-floor property had been recently refurbished, according to an exclusive report by NextTV. The post ignited heated debate online, with nearby shop owners saying the surrounding townhouses are at least forty years old, suggesting that Kaohsiung home buyers may not have a taste for such antiquated abodes.

The townhouse next door, which has four stories, recently sold for NT$23 million, per NextTV.

Yet, this homeowner is not only asking for an astronomical price but also insisting the payment be made in one lump sum. Even a local real estate agent surnamed Cheng (鄭) said the homeowner is asking for too much.

“Only an investment firm could come up with such a sum!” Cheng exclaimed. “It’s out of the question for regular folk.”

The owner of a hair salon that currently rents out the ground floor of the building was shocked to hear the news:

“I had no idea!” she said, explaining she had only moved in a couple of months ago and was in the dark about the landlord’s plans to sell the property for such an enormous price.

“I think it’s impossible at that price,” she said.

“It’s excessive,” said another nearby vendor. “How ridiculous.”

Netizens are still speculating over whether the owner simply mistyped the price or was intentionally trying to intentionally shock buyers and stimulate hype around the property.

This is just the latest example of unusual incidents in Taiwan's real estate sector lately. Just this month, a homeowner who listed his property in Taipei's leafy Shilin district on the market said he is willing to accept a down payment for the property in Bitcoin. In other news, Taiwan's top builder Pau Jar Group (寶佳機構) said it would raise its home prices by 30% to 40%, depending on the location, citing increasing material costs.