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Housing transactions in 6 major cities rebound in May

2017/06/02 22:23:43

CNA file photo

Taipei, June 2 (CNA) Transactions of residential and commercial property in the six largest cities in Taiwan rebounded in May on the back of deferred purchases from a month earlier, according to government statistics.

The government data showed that transactions of homes, shops and offices in Taipei, New Taipei, Taoyuan, Taichung, Tainan and Kaohsiung totaled 17,652 units in May, up about 16 percent from April, when housing transactions fell 13 percent month-on-month.

The May transactions were the highest for any month this year, the data indicated, though transactions in the six cities still fell about 1 percent from the same period last year.

Tseng Ching-der (曾敬德), a research manager with Sinyi Realty Inc. (信義房屋), said that the rebound in May transactions was largely caused by postponements from a month earlier with growth in the six cities up 5-23 percent month-on-month.

Other market analysts said that some home sellers appeared more willing to lower their prices in a bid to speed up deals, which also boosted transactions in May.

Housing transactions in Kaohsiung in southern Tawian rose 22.95 percent from a month earlier to 3,198 units, the highest growth among the six cities. Transactions in the second largest city in Taiwan also rose 1.01 percent from a year earlier, the data showed.

Taipei, the capital city, posted the second largest month-on-month growth of 21.27 percent with transactions totaling 2,070 units, which also represented an increase of 12.87 percent from a year earlier, the data indicated.

Tainan in the south came third with month-on-month growth of 18.21 percent and transactions hitting 1,688 units, ahead of New Taipei, the most populous city in Taiwan (up 18.15 percent; 4,296 units), Taoyuan in the north (up 13.67 percent; 3,035 units ) and Taichung in central Taiwan (up 5.22 percent; 3,365 units), the statistics indicated.

Lang Mei-nan (郎美囡), an analyst with Great Home Realty (大家房屋), said that housing transactions in Taipei, the most watched property market in the country, topped 2,000 units for the first time this year, a positive sign for the property market in Taiwan.

Tseng agreed, saying the local property market is showing signs of stabilizing after consolidating for a long time.

Taiwan Realty (台灣房屋) said that if this pace continues for the rest of the year, housing transactions are expected to rise from 245,396 units in 2016 to 270,000-280,000 units in 2017.

(By Wei Shu and Frances Huang)
enditem /AW