[quote=“Bu Lai En”]Values will go up even before they’re finished of course, but they might have already done that. Neihu values have already gone up because the MRT will go there in 4 years.
Brian[/quote]
I’ve heard the same, however I wonder if they have risen all the way so to speak. A realized fact (the MRT line) might yet increase the property/land values?
YingFan
Teggs, I realise your aim and it seems quite sound thinking. I’m in a similar situation and have been considering this for some time.
Here are some things that have struck me.
I very much doubt that the people putting up these apartment buildings are failing to realise an MRT line is being built. They’re out there trying to maximise their profits to so I would certainly expect them to have priced in this when they come to selling them.
Thus the resale value - and remember it would be second hand by the time you sell on - will not be as high as you might think. No one likes a second hand anything, especially here, if a new one’s available down the road. And there are constantly new ones going up down the road.
However the market is definitely not over heated at the mo, proof from the government as they’re considering extending the subsidised loan rates for longer to give the market a boost. Taipei Times today (May 4th).
A more certain way I think to achieve capital gains on the property here is to look for relatively old properties in a soon to be MRT linked area and remodel it.
Case in point: where I currently live.
It’s an old apartment in an alley off a lane off a main road near to Ban Qiao station. It’s 3F of a typical 5 storey building, maybe 30 years old. The surrounding houses are all similar and I run the gauntlet of Amas having their morning gossip outside as I go to work. My landlady bought this house for 5 million. It had been remodeled. The inside is all new and it is NICE. The apartment on the 2F is undergoing renovation now. The developer bought it for 2.5 million. Same size. Same place. Maybe my landlady paid too much, but she paid. There’s a market for this stuff, so long as you get a place cheap enough to start with.
Also worth noting, though I feel its all pie in the sky, are plans for a redevelopment behind Hsindien. Some sort of American suburbia kind of design. Individual houses, wide streets, gardens. It needs new roads built and lots of infrastructure and I’m not sure of any details but it looks like at least people are thinking about stuff.
Also on a back-to-the-original-point point, if you’re still looking for details on the new buildings, I’ll collect all the ones that come here and pass them on.
Thanks! and i would really appreciate some info on new places if you can get your paws on it.
I think I’m still gonna go with a new place. The problem with a 30-year-old place is that you don’t know what gone on there for the past 30 years. There’s a good chance that the construction was dodgy and that it will be unsafe if there’s an earthquake.
I know that there’s still a lot of dodgy contruction now, but one can always research the construction company of a new building.
My initial intent was to buy an old rooftop and renovate, but after some research it seems that the best option is to buy new…