Q4 home prices remain stable; index up 0.55% sequentially

Taipei,  Home prices in Taiwan for the fourth quarter of last year remained stable, with an index that gauges price fluctuations growing only 0.55 percent from a quarter earlier, the Ministry of the Interior (MOI) said Monday.

Data released by the ministry showed that the home price index in Taiwan for the October-December period stood at 104.14, up 0.55 percent, representing a narrowing from a 1.95 percent sequential increase seen in the previous quarter.

The MOI said the latest growth was capped at 1 percent, providing evidence that local home prices continued to grow in a stable manner.

In terms of the six largest cities, the MOI said, the sub-indexes for Taipei, New Taipei, Taoyuan, Taichung, Tainan and Kaohsiung grew 0.27 percent, 0.49 percent, 0.17 percent, 0.85 percent, 0.76 percent and 0.91 percent, respectively, compared with the third quarter of last year.

The fluctuations in Tainan and Kaohsiung in the fourth quarter were narrowed even further from a sequential rise of 2.29 percent and 1.19 percent, respectively, seen in the third quarter, a further indication of a stable property market in the two cities, the MOI said.

In the third quarter, the sequential home price growth in the other four cities ranged between 0.45 percent and 0.94 percent, according to MOI data.

In addition, the MOI said, total mortgages accounted for 35.15 percent of the total home purchase value in the fourth quarter, up 0.42 percentage points from the previous quarter, indicating that home price affordability in the October-December period was slightly lower than a quarter earlier.

The MOI added that the ratio of home prices to household incomes stood at 8.58 times in the fourth quarter, up 0.11 times from a quarter earlier, but little changed from a year earlier.


Source: Focus Taiwan News Channel

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