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‘Ghost towns’ turned into coveted housing projects in Taiwan

Housing units in north Taiwan redevelopment zones gaining in popularity

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A residential area in Linkou District, New Taipei. (New Taipei Government photo)

A residential area in Linkou District, New Taipei. (New Taipei Government photo)

TAIPEI (Taiwan News) — Housing projects in redevelopment zones dominated the booming property market in northern Taiwan in 2021, according to an analysis by the journal Myhousing.

Data suggests that as of Dec. 25, the 10 “red-hot” administrative districts in terms of home sales were all driven by projects in redevelopment zones, per CNA. The region covers municipalities including Taipei, New Taipei, Taoyuan, Hsinchu, and Keelung.

The areas that logged the highest number of residential property transactions were Xindian District (New Taipei), Zhongli District (Taoyuan), Taoyuan District (Taoyuan), Banqiao District (New Taipei), Linkou District (New Taipei), Zhubei City (Hsinchu), Sanchong District (New Taipei), Xinzhuang District (New Taipei), Tamsui District (New Taipei), and Dayuan District (Taoyuan).

Xindian took the crown with combined sales exceeding NT$70 billion (US$2.53 billion) in value. The district saw home prices soar from NT$500,000 to NT$600,000 per ping (3.3 square meters) in four years, a 30% increase.

The surging popularity of these housing projects can be attributed to the neat streets, growth potential, and new transportation infrastructure in the areas, Myhousing reckoned. This has helped shed the image of the redeveloped zones as “ghost towns,” a term that used to apply due to the number of housing units going begging.