Property transactions in the six special municipalities last month totaled 21,368 units, spiking 33.7 percent from one month earlier, driven by people with real demand and new housing completions, brokers said yesterday.
The rebound approached 30 percent in Taipei to 2,553 deals, and climbed even faster in New Taipei City, Taoyuan, Taichung and Kaohsiung, data from respective local governments showed.
Taiwan Realty Co (台灣房屋) research head Charlene Chang (張旭嵐) attributed the pickup to five more working days last month compared with April, as well as new housing deliveries.
Photo: CNA
“People with real demand took action after expectations that housing prices would decline failed to realize,” Chang said.
The absence of new unfavorable policy measures spurred buyers to quit waiting and join the market, the analyst said.
New Taipei City posted the biggest month-on-month gain of 43.9 percent to 5,562 deals, followed by a 40.3 percent increase to 3,724 units in Taoyuan.
Transactions in Taichung registered a 32.4 percent jump to 4,052 units and advanced 34 percent to 3,525 deals in Kaohsiung. Tainan was relatively calm with 8.7 percent growth to 1,952 deals.
The unease linked to the bans on transfers of presale house purchase contracts subsided last month, Evertrust Rehouse Co (永慶房屋) said.
Furthermore, new housing delivery accounted for transaction advances in New Taipei City’s Sinjhuang (新莊), Sanchong (三重) and Sijhih (汐止) districts, as well as Taoyuan’s Longtan (龍潭) and Jhongli (中壢) districts, Evertrust Rehouse deputy research manager Chen Chin-ping (陳金萍) said.
However, it would be too early to paint the rebound as a sustained recovery as the transaction volume shrank 6.4 percent compared with a year earlier, Chen said.
Cumulative deals in the first five months of the year tumbled 21.4 percent year-on-year to 86,640 units for the six special municipalities, Chen added.
Great Home Realty Co (大家房屋) head researcher Mandy Lang (郎美囡) was also cautious, saying buyers and sellers remained at loggerheads over housing prices, which could slow transactions.
Additionally, the rebound would come to a halt if the central bank raises interest rates again later this month, H&B Realty Co (住商不動產) said.
The central bank is to review its monetary policy on June 15.
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