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Taoyuan records most land transactions in Taiwan

2013/10/12 18:30:12

(CNA file photo)

Taipei, Oct. 12 (CNA) Taoyuan County recorded the highest land transactions among the 21 counties and cities in Taiwan in the first eight months of this year amid optimism toward the county's infrastructure development in the future, statistics showed Saturday.

According to the data compiled by Sinyi Realty Co., one of Taiwan's leading property agencies, land sales in Taoyuan in the eight month period totaled NT$199.3 billion (US$6.76 billion), ahead of the also hot property market of central Taiwan's Taichung City, where transactions reached NT$135.6 billion.

New Taipei City in the north came in third with NT$99.2 billion in land transactions, followed by Kaohsiung City with NT$90.7 billion, and Tainan City with NT$52.0 billion, the statistics indicated.

Land sales in Taipei City, which boasts the highest housing prices in Taiwan, however, recorded only NT$28.2 billion in land transactions in the eight-month period, far behind the top five cities, due to a much smaller land supply after years of development.

During the same period, land transactions across Taiwan surpassed NT$800 billion, according to the statistics.

Tseng Ching-der, an analyst with Sinyi Realty, said property developers have turned upbeat about the housing market in Taoyuan, in particular after the government announced it plans to spend NT$336.6 billion in the Taoyuan Aerotropolis project to transform the county into a trade and transportation hub in the country.

In addition to the public money, the private sector is expected to contribute an additional NT$126.4 billion to the project, which is scheduled to be completed in 2030.

The high-speed high rail also stops in Taoyuan, Tseng said, and as a result property developers are positive about home sales in the county because the area offers convenient transportation.

Inside Taoyuan County, Tseng said Dayuan registered the highest land transactions valued at NT$48.5 billion.

Tseng said high land sale value in Dayuan showed strong interest in future development of the township, which will be included into the aerotropolis project, and the Taoyuan International Airport MRT system project.

So far this year, the number of land transaction deals in Dayuan has totaled about 1,600 with the average value for a transaction hitting almost NT$30 million, Tseng said.

Sinyi Realty said in the first half of this year, property transactions, comprised of land and housing sales, in Taiwan totaled NT$2 trillion, while land deals accounted for 30 percent of the total transaction value.

The real estate agency said property transactions for the entire 2013 are expected to top NT$4 trillion.

(By Wei Shu and Frances Huang)