For Sale: Three-story house - Hsinchu

Not sure if there’re expats in TW would consider buying a property or not, this is just shared for those who looking for house in Hsinchu.

Fabulous three-story house located in LIAN HUA SHAN JHUANG (聯華山莊) community in Baoshan rural township, where accesses to Hsinchu science park within only 10 mins, and 20 mins to Costco by car.


This American style community is highly renowned among expats for its quiet, private and natural environment, you may enjoy your free time with your children in this safe community, playing balls, chasing around without worrying about the motorcycles that would probably rush out from the road nearby.

Built in 2007 and in excellent condition, this home features 4 Bedrooms, 3 Bathrooms, a spacious sunlit living room with large windows and 3 parking spaces.

【Address】No.2, Songcui Rd, Baoshan, Hsinchu County (寶山鄉嵩翠路2號)

【Selling Price】32.8 million TWD

【Year built】2007

【Lot】83.18 Pyeong ( ≈ 2960 sqft )

【Parking】3 spaces

【Remark】

  • Principally, maximum mortgage for foreigners who able to purchase is roughly 60 to 80 percent of a house price, subject to your financial ability.
  • Not all the foreigners can buy property in Taiwan, it subjects to your nationality. Recently, we did assist a client from South Africa to find his home right in this LIAN HUA SHAN JHUANG community, from negotiation with the seller to tax and morgage etc.

Yung Chun Real Estate 0919345679 Jeffry Lin (Licensed realtor), you can find me on Line APP by typing this number directly, I will send you photos of the house.

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Hi Jeffry. I think there are plenty of expats who would consider buying property, myself included. As most banks will not even look at foreigners without a guarantor(despite the bank having its risk minimised by seizing it in the event of a default), if one of us is looking for your services, will you be willing to help find a financial institution that can provide a mortgage?

Wow, it’s insane how much that looks like a North American suburb!

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Hello, I am looking for house to buy in Hisnchu. Is this property still there?

But cost 3-4x more than most North American Suburbs, nearly impossible to resell, impossible to rent out and located in the mountains outside of Hsinchu…

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How are the neighbors?

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So if the location is bad, rental prospects dim, and resellability nill, why is the price so high? (Note I am asking about @bluejasn’s claims not necessarily the listing)

Cause land is still at a premium. This is one of the densest countries on the planet.

I think that’s one of the complexes built to attract talent back from America to work in the science park. I lived close to Baoshan for a year or two.

You can play balls there. :joy:

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Looks like a nice…um…street. Don’t want to show the house? Oh well, it’s 3 times my budget anyway.

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  1. Real estate fever. The Chinese/Taiwanese custom of must owning a home at all costs. For example in Taipei city 59% of salary goes to Mortgage. In New Taipei City its 49%.

  2. Price speculation over the past 12 years = housing bubble.

  3. The lowering of estate transfer taxes years back.

  4. Low mortgage rates keep prices high, but this doesnt make sense because outside of the US you can not secure a 30 yr fixed mortgage. So within a 20-30 year history mortgage rates in TW has fluctuated 8-10%. Meaning a lot of loans risk going into more foreclosure in the coming years.

  5. Refusal of general population to look at or understand real estate markets outside of Taiwan for rational comparison.

Just because prices are high in 2020 doesn’t mean the price is worth the purchase as with any real estate bubble in history has shown. TW’s housing prices are similar to Japans before Japan popped due to population decline which is what TW is facing. Taiwan is the only market where I see random high prices being thrown out routinely like fishing for suckers, there are no laws/oaths regulating the ethics of Realtor industry here even Malaysia instituted laws around this in 2016 and building code laws for pre builts which cleaned their real estate industry. Yet to see that in Taiwan in 2020. Buying a house in Taiwan is no safer than buying a used car.

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Here are some reasons why I think the prices are over inflated and there is a bubble which will not pop but slowly decrease in price an average of 0.3% over the next 30 years based off this extensive study. National Chengchi University, National Sun Yat Sen University. https://www.researchgate.net/publication/315766152_Taiwan_Housing_Bubbles_and_Affordability

  1. Declining population… In 20 years taiwan will have 90% of its population…

  2. Political uncertainty of future (China)

  3. Low Salary/price
    4a. High vacancy time for landlords to find renters larger than studio size.
    4b. Difficulty in finding renters outside of city centers of major cities.

  4. Lowest rental yield in the world. Rent/Mortgage ratio

  5. Low Tourism/Foreigner amount so difficult to AirBnB along with renting out

  6. If I lose job in Taiwan we will need to sell the house here

  7. Difficult to sell houses, houses often sit on market for more than 1 yr sometimes several years, this is unheard of in L.A. where houses get multiple offers in a month and there is often a bidding war.

  8. High price and low interest can become High interest low prices…As interest rate increases prices will drop.

  9. No fixed loans…in the past 20 years TW interest rate fluctuated from 8% to below 2% in the past 30 years it fluctated from above 10% …within 30 years if this repeats buyers will not be able to afford to mortage. There is little benefit to lock in 5 years when interest are at all time lows.

  10. Abundance of old buildings and empty houses… People with money artificially holding price high… The real value of any property is in its rental value.

  11. Most Gen X and Millenials simply given up on buying houses and waiting to inherit from Boomers, by the time we inherit they population will be far less and there will be far more vacant houses, Taiwan population going the same way as Japan

  12. Taipei far more expensive than the heart of Tokyo, yet the rent is far lower and hard to rent out large houses other than studio…nearly impossible. This high real estate cost applies across Taiwan as well when comparing Taiwan countryside to Japan’s countryside.

  13. The typical Taipei apartment costs 14.5 times the median annual household income, according to Ministry of the Interior data. The mortgage burden in the nation’s capital is a whopping 59% of household income, whereas property analysts recommend that a mortgage burden not be higher than 30%. This mortgage burden is reflective of many parts of Northern and Central Taiwan

  14. Earthquake territory.

  15. Taiwan has no laws about ethics and transparency in the realtor side of the industry so they often act similar to used car salesmen and lie to make the sale.

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Here’s the location of the community.

https://goo.gl/maps/8U2tvRZcXoG6XG7Y8

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Has anyone had success getting a mortgage on an ARC or APRC? What are the terms like?

Post pics of the house, please.

Edit. Disregard. I failed to see that the original post was from way back in May.

Also, the prices for these properties are way too expensive for what they are and the location.

Must have a huge monthly maintenance fee as well!

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Wow, up in the mountains in the middle of nowhere very far from Hsinchu city. From an investment and grounded reality POV Actual value is more like 10-14 million NTD. (Downgraded from 16 million after checking the map and small mountain roads to get there) This property would never generate profit in 2020 buying prices and be hard to resell in 10 yrs. If the owner bought in early 2000’s then he/shes making a killing if they can resell it.

For 32.8 million NTD I can buy a house in Los Angeles, Orange County or San Diego and rent it out for 4,900 USD or 143,800NTD per month and EASILY find a long term renter within 2 weeks even with multiple offers. On top of this the real estate value is very likely to go higher in Southern California but not in Hsinchu.

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Concept is great in theory but agree with @bluejasn on many of his (her?) points. Additionally, what Taiwanese like and what expats/Westerners like are VERY different. Believe there are very few Taiwanese willing to live without a 7-11 within walking distance (who knows, maybe there’s one in the community?).

There’s a similar community up in Beitou, which I guess was built during a prior expat boom. Single family, free standing homes with POOLS! It’s a bit of a ghost town now, not completely abandoned, but many empty homes becoming eyesores.

https://goo.gl/maps/GXpmigcAZkFNKpXr8

Did some recent house hunting and looked into an area out by Jinshan. Looked cool, free standing single family homes at what seemed like very attractive prices. Went to check out the area, and this WAS a literal ghost town.

https://goo.gl/maps/GnWpRP87tetDySUK9
(one of the properties in that community)

Buying something of this sort in Taiwan is a one-way transaction…

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I’ve managed to get a mortgage twice on an ARC (now have an APRC) but my wife is Taiwanese. Her name went on the house but not on the mortgage. IIRC, LTV was in the 70% range (wasn’t actually trying to lever up too highly). Both mortgages were with HSBC.

I still remember a friend asking me after we bought our place why we wanted to live so far out of town–it takes 10 minutes on my bicycle to get into town, but to her, we were living in the sticks.

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thx !