Taipei home unit sells for reported record NT$4 million per ping

Taipei, Oct. 23 (CNA) A luxury residential unit in Taipei's Xinyi District had been sold to a buyer unaffiliated with the developers, marking the first such transaction, with real estate agents estimating the record-high price at NT$4 million (US$129,871) per ping (3.3058 square meters).

BES Engineering Corp. (BES), one of the developers of Tao Zhu Yin Yuan, or Agora Garden, on Thursday disclosed a profit of NT$118 million from selling a unit in the building, in a filing with the Taiwan Stock Exchange.

A 17th-floor unit in the 21-story building, along with four parking spaces, was sold to an individual for NT$1.2 billion, according to BES, which declined to disclose further information about the buyer to the media.

Designed by Belgian architect Vincent Callebaut and his Paris-based studio, Vincent Callebaut Architectures, Tao Zhu Yin Yuan is a distinctive twisting tower, promoted as a green and sustainable project featuring vertical gardens and energy-efficient design.

Since the tower was completed in 2018, there has been only one transaction -- in July 2019 -- by an affiliated company of Core Pacific Group, whose two affiliate enterprises, BES and the Asia Pacific Federation of Industry and Commerce, are the building's main developers.

The latest sale marked the first transaction since the building, which has 40 residential units, went on the market in February.

According to estimates by real estate agents, the unit sold for about NT$4 million per ping, reportedly the highest ever per ping price in Taiwan, surpassing the NT$2.99 million per ping paid for a unit at One Park Taipei in Da'an District in 2021.