Hong Kongers prefer well-located homes in Taiwan priced below NT$30m

06/21/2020 05:29 PM
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CNA file photo
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Taipei, June 21 (CNA) Well-located homes in Taiwan priced at NT$30 million (US$1.01 million) or less that allow convenient access to facilities and public transport systems are a main draw for most Hong Kong people who have emigrated to Taiwan and are seeking property here, according to Taiwanese real estate companies.

The number of people from Hong Kong and Macau with household registration in Taiwan has been on the rise over the past few years, up from 6,193 in 2015, 9,549 in 2018 to 11,000 in 2019, a record high and an increase of 15.3 percent from a year earlier, according to Ministry of the Interior statistics.

The anti-extradition bill protests that raged in Hong Kong last year have spurred more people to emigrate to Taiwan, giving a boost to Taiwan's real estate market, real estate brokers said.

Taiwan's good living environment and cheap commodity prices, plus relatively low housing costs compared with Hong Kong have therefore attracted many Hong Kongers to emigrate to Taiwan over the past few years, according to Continental Development Corp. Chairman Chang Liang-chi (張良吉).

For instance, if a Hong Kong person spends NT$100,000 on monthly rental payment for a spacious apartment in Taiwan, he or she could only rent a home of two bedrooms at most in Hong Kong. Meanwhile, if the individual wants to send children to an international school, the tuition fees in Taiwan are about 33 percent those of Hong Kong, according to Chang.

Meanwhile, Hsu Chia-hsin (徐佳馨), head of the research department of real estate sales agent H&B Business Group, said that based on her observations of the housing market, most Hong Kong people prefer properties priced at NT$30 million or less, with two to three bedrooms.

Most Hong Kong people have their household registrations in New Taipei, with 2,774 in 2019, followed by 2,418 in Taipei, 1,392 in Taichung, 1,126 in Taoyuan, 1,112 in Kaohsiung and 496 in Tainan, according to Hsu.

Potential Hong Kong property buyers give high value to certain facilities deemed vital to daily life in their neighborhoods, such as traditional markets, supermarkets and transport access to high speed rail, MRT and rail systems, Hsu said.

Most of the potential buyers are couples who have double stable incomes and no children, and young people, according to Hsu.

Hsu dismissed concerns that the inflow of Hong Kong capital could spur speculation in the property sector, saying that given that around 11,000 Hong Kong immigrants registered last year, if 5,000 of them conduct property transactions, that would account for only a slim amount of the average of around 300,000 total transactions in Taiwan.

In addition, Taiwan's relatively high transaction tax on properties sold within two years of purchase could also damp down housing speculation, Hsu added.

Also, Evertrust Rehouse Co. general manager Yeh Ling-chi (葉凌棋) said that most Hong Kongers purchase houses for their own use and prefer those priced around NT$15 million. Therefore, at present, he does not expect them to speculate in the property sector in Taiwan.

(By Tsai Peng-min and Evelyn Kao)

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