New Taipei City has seen an rise in its house purchases this year, as more people are willing to take residence in second-tier locations given the high cost of purchasing a house in the capital and other major locations, Shining Building Business Co (鄉林建設) said yesterday.
As of last month, the number of households in New Taipei City rose by 10,382 from December last year, with the districts of Sinjhuang (新莊), Tamsui (淡水), Banciao (板橋), Linkou (林口) and Tucheng (土城) seeing the largest increases, the company said, citing government data.
Taoyuan and Taichung also reported growth in household numbers during the same period, while Taipei, Tainan and Kaohsiung posted declines, the Taichung-based developer said.
Photo: Lai Hsiao-tung, Taipei Times
Improvements in infrastructure and the relative affordability of homes accounted for the changes, it added.
Housing prices in Taipei are approximately 15.54 times the median annual household income, compared with 12.25 times in New Taipei City, the company said, citing first-quarter statistics from the Ministry of the Interior.
Relative housing affordability and the expansion of MRT lines have made New Taipei City a popular choice for residence, the developer said.
Additionally, major shopping malls, department stores and movie theaters have expanded their presence in second-tier locations to take advantage of their newfound population growth, it said.
Taipei’s population shrank by 44,000 people last year, while losing another 19,000 in the first eight months of this year, posing a threat to consumer activity in the long term, the company said.
Given the growth trend, rezoned areas in New Taipei City are in need of new elementary and junior high schools to accommodate new students, it said.
A rezoned area in Sinjhuang District might soon evolve into a first-tier battleground as it has attracted property investments from major developers such as Huaku Development Co (華固建設), Ruentex Development Co (潤泰新), Pau Jar Group (寶佳機構), Hiyes International Co (海悅) and Shining Building.
Shining Building sold out a presale project in Sinjhuang in the first six months after its launch three years ago. Construction of the project is due for completion by the end of this year.
Housing transactions in Sinjhuang are on the rise because it is home to several government ministries and agencies, as well as being within a convenient distance of the Taiwan Taoyuan International Airport MRT line, the company said.
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