Buy-House situation in KHH

I am living in KHH-City almost 7 years and I am stunned about the ongoing new high-rise buildings.
Mostly luxury appartments and some buildings are starting from 70 ping up to 120-150,
rare cases even tops 200 ping. The area around Art Museum (MeiShuGuan) once was (maybe still is)
the in-to-be-place, but somewhere are downgraded as these new places are spreading out now almost everwhere.
I know that up north the bubble is going on already for some years, but here in Kaohsiung
I really ask myself who is going to buy these places ?
People from Taipei-City who are selling their (highly rated) ground-area, thus moving down south
for retiring
will Taiwan open its real estate for mainland chinese people (no idea, already happened?) ??

Anyway, salary/wage is much less here and who knows if the bank rates are continuing at these current
low levels …
In my homecountry (Germany), the goverment take care, that a fair amount of available housing
are available for average families.

Anyway, it is hard to find anything under 14 Wan per ping, so did the bubble catch on KHH too ?
We bought our place shortly after “Lehmann” and at that time price were far under 10 Wan for a
new 40 ping average quality appartment.

Friends of mine are thinking to get their own places and they are pretty clueless about the situation here.
Suggestions, comments ?

The luxury apartments are a kind of investment trend related to Taiwanese bringing money back to Taiwan from overseas. You’ll find they are purchased by overseas Taiwanese, Taiwanese with business in China, Taiwanese with undeclared income to wash, and of course some local rich folks. Supposedly some are purchased for Chinese through Taiwanese ‘names’, not sure how true that is. It’s related to the changes in inheritance, gift tax, low property tax and the very low interest rates along with currency debasement.

It’s funny as Taichung has the same type of phenomenon. There was another thread discussing some of these issues. I think the high end apartment bubble has reached it’s peak already.

KHH is a city with a lot of potential and it is much cheaper than Taipei, 14 wan per ping is not that expensive but of course IS expensive for the average person there. Still no lack of housing anywhere in Taiwan to be honest. If I was going to buy an apartment there I MIGHT consider buying in the harbour area, as it’s really coming on and could get a lot more tourists in future.