Northern Taiwan home prices rise slightly in fourth quarter
February 15, 2019 - Taiwan
Prices of newly built homes and pre-sale projects in cities and counties in northern Taiwan increased slightly in the fourth quarter of last year, indicating a stable property market in those areas, according to taipeitimes.com.
Data compiled by Housing Monthly covered Taipei, New Taipei City, Taoyuan, Keelung and Hsinchu City, and the counties of Hsinchu and Yilan, which account for more than 50% of the total residential and commercial property transactions in the country.
Home prices in Taipei averaged NT$851,000 (US$27,607) per ping (3.3m2), up 2.28% from a quarter earlier and 2.16% from a year earlier.
It was the first time that home prices in Taiwan have recorded year-on-year growth since the second half of 2014.
Prices of newly built homes and units in pre-sale projects moved higher in Taipei in the fourth quarter.
In New Taipei City, home prices averaged NT$385,000 per ping, up 1.85% quarter-on-quarter, but little changed from a year earlier, the data showed.
Home prices in Taoyuan hit NT$226,000 per ping on average, up 2.73% quarterly, but down 0.44% annually, with the magazine attributing the quarterly price increase to a decline in the number of homes put up for sale.
In Keelung, home prices averaged NT$209,000 per ping, a quarterly increase of 1.95% and an annual increase of 6.63%, while those in Hsinchu reached NT$229,000 per ping, up 1.73% from a quarter earlier, but unchanged from a year earlier.
Yilan was the only area in northern Taiwan to see home prices fall quarterly and annually to average NT$212,000 per ping, down 0.9% from a quarter earlier and 7.8% from a year earlier.
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