Legislation to prevent the hoarding of real estate for tax purposes should be reviewed swiftly and forwarded to the legislature or the Executive Yuan should propose its own solution, rights advocates and opposition lawmakers said yesterday.
Social Housing Advocacy Consortium secretary-general Peng Yang-kae (彭揚凱) said that despite rising home prices, the number of people who have more than one house has increased, leading to increased centralization of realty ownership.
Of the 52,600 units constructed over the past six years, 53.5 percent were not for self-use, Peng said, citing statistics from the Ministry of Finance.
The number of people who own properties that they do not use themselves has grown on average by 7 percentage points per year, from 336,000 in 2015 to 502,000 this year, Peng said.
Housing constructed in the past five years comprise the greatest number of vacancies at 37.16 percent, he said.
People who own more than one house are more likely to purchase a house that has just been built, he said.
It is unfair that wealthy Taiwanese are not taxed more for buying new houses and leaving them empty, he said.
New Power Party Legislator Chiu Hsien-chih (邱顯智) said that Cathay Real Estate Development Co data show that prices in the third quarter increased 4.05 percent from the previous quarter, rising to NT$319,600 per ping (3.3m2).
Directorate-General of Budget, Accounting and Statistics data showed that last year there were about 1.66 million vacant units, or one vacant unit for every six occupied ones, Chiu said.
It is unfortunate that the Executive Yuan in March backtracked on a realty hoarding bill, he said, adding that it should expedite such legislation.
Taiwan People’s Party Legislator Tsai Pi-ru (蔡壁如) said that the administration of President Tsai Ing-wen (蔡英文) should keep its promise to implement housing justice.
The government cannot blame local administrations for what ultimately is the central government’s duty, Tsai Pi-ru said.
Chinese Nationalist Party (KMT) Legislator Lee Kuei-min (李貴敏) said the government must offer an alternative if it feels that a hoarding tax would not stem rising prices.
If not, the Executive Yuan should expedite the review of the proposed realty tax and forward it to the legislature for review, Lee said.
Taiwan is stepping up plans to create self-sufficient supply chains for combat drones and increase foreign orders from the US to counter China’s numerical superiority, a defense official said on Saturday. Commenting on condition of anonymity, the official said the nation’s armed forces are in agreement with US Admiral Samuel Paparo’s assessment that Taiwan’s military must be prepared to turn the nation’s waters into a “hellscape” for the Chinese People’s Liberation Army (PLA). Paparo, the commander of the US Indo-Pacific Command, reiterated the concept during a Congressional hearing in Washington on Wednesday. He first coined the term in a security conference last
Prosecutors today declined to say who was questioned regarding alleged forgery on petitions to recall Democratic Progressive Party (DPP) legislators, after Chinese-language media earlier reported that members of the Chinese Nationalist Party (KMT) Youth League were brought in for questioning. The Ministry of Justice Investigation Bureau confirmed that two people had been questioned, but did not disclose any further information about the ongoing investigation. KMT Youth League members Lee Hsiao-liang (李孝亮) and Liu Szu-yin (劉思吟) — who are leading the effort to recall DPP caucus chief executive Rosalia Wu (吳思瑤) and Legislator Wu Pei-yi (吳沛憶) — both posted on Facebook saying: “I
The Ministry of Economic Affairs has fined Taobao NT$1.2 million (US$36,912) for advertisements that exceed its approved business scope, requiring the Chinese e-commerce platform to make corrections in the first half of this year or its license may be revoked. Lawmakers have called for stricter enforcement of Chinese e-commerce platforms and measures to prevent China from laundering its goods through Taiwan in response to US President Donald Trump’s heavy tariffs on China. The Legislative Yuan’s Finance Committee met today to discuss policies to prevent China from dumping goods in Taiwan, inviting government agencies to report. Democratic Progressive Party Legislator Kuo Kuo-wen (郭國文) said
The Ministry of Economic Affairs has fined Taobao NT$1.2 million (US$36,900) for advertisements that exceeded its approved business scope and ordered the Chinese e-commerce platform to make corrections in the first half of this year or its license would be revoked. Lawmakers have called for stricter supervision of Chinese e-commerce platforms and more stringent measures to prevent China from laundering its goods through Taiwan as US President Donald Trump’s administration cracks down on origin laundering. The legislature’s Finance Committee yesterday met to discuss policies to prevent China from dumping goods in Taiwan, inviting government agencies to report on the matter. Democratic Progressive Party
RSS