Taiwan housing market to cool down in 2012: experts
TAIPEI, Jan 9 (AsiaNet/UNB) - The housing market in Taiwan, which has been overheated for the last seven years, is expected to slow down with the price decreasing by 20-30 percent in2012, experts said Sunday.
The housing transaction in 2011 was estimated at around 363,000 units, a record low in eight years and a drop of 10 percent from 2010, according to China Trust Real Estate Co.
As a result of global stock market declines and Taiwan's introduction of a luxury tax last July, forecasts for the property market have become more conservative, My Housing Magazine said.
The magazine said the value of new housing projects and newly built houses in northern Taiwan for 2011 was estimated to fall to NT$821 billion from NT$1.023 trillion (US$33.9 billion)-- the previous forecast earlier that year.
The housing transaction in 2011 was estimated at around 363,000 units, a record low in eight years and a drop of 10 percent from 2010, according to China Trust Real Estate Co.
As a result of global stock market declines and Taiwan's introduction of a luxury tax last July, forecasts for the property market have become more conservative, My Housing Magazine said.
The magazine said the value of new housing projects and newly built houses in northern Taiwan for 2011 was estimated to fall to NT$821 billion from NT$1.023 trillion (US$33.9 billion)-- the previous forecast earlier that year.
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