TAIPEI (Taiwan News) — Housing projects in northern Taiwan fell by more than NT$200 billion (US$6.87 billion) in the first half of this year, reflecting a significant slowdown in the property market.
According to data from My Housing Magazine, the total value of new and pre-sale housing projects launched in northern Taiwan reached approximately NT$578.04 billion during the first six months of the year, down NT$211.5 billion from the same period last year—a year-on-year drop of 26.8%, per CNA. Among all regions, only Yilan County saw growth, with a 20.3% increase.
The steepest declines were recorded in Hsinchu and Taipei, with year-on-year drops of 47.3% and 38.3%, respectively. The magazine noted that despite the Central Bank introducing no new cooling measures, the housing market remains sluggish and project volume for the rest of the year appears bleak.
My Housing Magazine spokesperson Chen Ping-chen (陳炳辰) said developers are delaying launches due to unfavorable macroeconomic conditions. Hsinchu saw the sharpest fall, with only NT$41.56 billion in new projects launched, compared to NT$78.9 billion in the same period last year.
Only one major project in Hsinchu’s East District by Fu Yu Construction exceeded NT$3 billion this year. In contrast, five projects topped that threshold last year, including one valued at over NT$10 billion.
Chen said developers in Taipei are similarly cautious, launching just NT$111 billion in new projects in the first half—a nearly 40% decrease from the previous year. Although one commercial office project in Nangang District exceeded NT$10 billion, it was overshadowed by last year’s large-scale developments in Beitou-Shilin Technology Park, Minsheng Community, Xinyi District, and Beitou District, where five projects surpassed NT$10 billion each.
Only four projects this year fell within the NT$5–10 billion range, fewer than last year. The magazine said the luxury segment in Taipei has cooled, with little room for high-end developments under current market conditions.
Yilan stood out as the only region with growth, recording NT$14.66 billion in project volume—a 20.3% year-on-year rise. Chen attributed the increase to three projects in Wujie and Toucheng townships, each valued at over NT$1 billion. However, he emphasized that Yilan's market remains small and the growth was driven by a low base effect.
Chen added that although the Central Bank introduced no new curbs on real estate speculation at its latest board meeting, the downturn persists. Developers in New Taipei’s Zhonghe District, Taoyuan’s Zhongli and Dayuan districts, and Hsinchu’s East District have reportedly postponed project launches planned for the second half of the year.
As a result, Chen said the total housing project volume this year could shrink by 20% to 30%.
