Taipei, June 12 (CNA) Taiwan's housing market may benefit from afree independent travelers (FIT) program for Chinese visitors by thesecond half of the year, major real estate agencies said Sunday.
Transactions involving commercial and residential properties suchas stores and luxury buildings in Taiwan may be boosted by thecross-strait Economic Cooperation Framework Agreement and imminentFIT program, said Huang Tzeng-fu, an assistant manager at YungchingRealty Group.
Taiwan's housing prices may reach international standards andattract more investments by foreign and domestic institutions andwealthy buyers, Huang said.
The real estate industry is very positive about the outlook forthe second half of the year based on the launch of the FIT program,said Lee Heng-yu, special assistant to the general manager's officeat ERA Taiwan Master Franchise,Inc.
China's National Tourism Administration Chairman Shao Qiweiannounced Sunday that the FIT program, which would allow Chinesetourists to visit Taiwan independently rather than as part of a tourgroup, would begin on June 28.
Under Taiwan's current framework for the FIT program, a maximumof 500 independent Chinese tourists will be allowed to enter theisland per day.
At present, tourists from mainland China are only allowed tovisit Taiwan as part of a tour group, in maximum numbers of 4,000 perday.
(By Eva Feng and Hanna Liu)