Transactions of residential and commercial property in the six largest cities in Taiwan rose more than 3 percent in August from a month earlier, helped by an increase in the supply of pre-sale properties, according to the six local governments.
Transactions of homes, offices and shops in Taipei, New Taipei and Taoyuan in the north, Taichung in central Taiwan, and Tainan and Kaohsiung in the south totaled about 19,000 units in August, up 3.7 percent from a month earlier and up 14.4 percent from a year earlier, local government data showed.
Tseng Ching-der (???), a research manager with Sinyi Realty Inc., said an increase in the supply of pre-sale units, more working days in August than in July, and the stabilization of sales in Tainan and Kaohsiung led to the higher number of transactions.
In July, property sales in the six cities fell 13.3 percent from a month earlier as Tainan and Kaohsiung saw declines of 18.2 percent and 20.2 percent in unit sales, respectively, from a month earlier.
In August, however, housing sales in Tainan and Kaohsiung rebounded with 9.9 percent and 9.1 percent month-on-month increases to 2,017 and 2,925 units, the latest data showed.
Taiwan Realty said the sales rebound in Tainan came amid higher deliveries of homes in some areas, in particular in Annan District, and a rebound in purchases in districts near the Southern Taiwan Science Park.
According to Taiwan Realty, housing transactions in Annan totaled 390 units, up 12.7 percent from a month earlier and the most of any district in Tainan, ahead of Yongkang District (241 units) and Anping District (186).
As for Kaohsiung, Taiwan Realty said the increase came mainly from buyers looking for homes for their own use in August.
In Taipei, the most closely watched property market in Taiwan, housing sales fell 1.6 percent from a month earlier to 2,236 units, while in New Taipei, the most populous city in the country, transactions dropped 4.9 percent month-on-month to 4,468 units.
Property sales in Taoyuan totaled 3,482 units in August, down 1.6 percent from a month earlier, while transactions in Taichung rose 16.7 percent from a month earlier to 4,027 due to booming pre-sales.
In the first eight months of this year, housing transactions in the six cities totaled 169,137 units, up 0.2 percent from a year earlier.
Looking ahead, Chen Chin-ping (???), a research manager with Yung Ching Realty Group, said she remained cautious about housing transactions in Taiwan the rest of the year because of rising interest rates worldwide.
Source: Focus Taiwan News Channel