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Taipei City sees largest growth in land prices in Taiwan

Taipei City sees largest growth in land prices in Taiwan

Taipei, Jan. 14 (CNA) Land prices grew by 1.29 percent in Taipei City during the six-month period from April to September 2008, representing the largest growth among cities and counties in Taiwan, according to statistics released Wednesday by the Ministry of the Interior's Department of Land Administration (DLA).
Taiwan's overall national land prices grew only slightly by 0.51 percent in the six-month period, compared to the previous six-month period of October 2007 to March 2008, tallies from the DLA's land price index showed.
Land prices surged higher than the national average in the capital city due to warm trading in Taipei's real estate market after the March 21 presidential election, according to an analysis by the Taipei city government, which was cited by the DLA report.
Property sales turned cold, however, in late 2008 because of the global financial crisis that hit the local stock market, hurting consumer and investor confidence.
Despite the slowdown in property trading, land prices in general in Taiwan still grew higher last year, compared to the previous year, the official said.
Growth in land prices in Taipei, however, depended on the neighborhood. According to the DLA, land prices in most administration districts in Taipei City remained unchanged in the April-September period last year, except for those in the Nangang economic and trade zone, which rose thanks to the launch of a large number of infrastructure construction projects in recent years.
Meanwhile, eastern Taiwan's Hualien County recorded the largest drop of 1.15 percent on the latest land price index. The DLA said the decline resulted from most buyers' hesitant attitude.
(By Elizabeth Hsu)




Updated : 2021-06-20 00:17 GMT+08:00