How do people think about old apartments in Taipei?

I started looking into buying a place. I’m looking at place in Taipei with elevator (not walkup) and some greenery. It seems like most of the reasonable place match my criteria (~30M) are more than 20 years old. How do people think about these old complex?

10-20 years from now it will be 40 years old. Is mid/high rise still sellable at that point? I assume so since many walk up apartment are 30-40 years old?

they have pros and cons:
pros: more space compared to the new buildings, since there is a lot less “common areas”, your net living space is bigger.

Cons: old, falling apart, not built to any fire or safety code, electricity and plumbing crumbling away. no elevator.

Sellable - depends on location

personally - for 1 million USD i think i can find something nice in many places in the world, not a 30 year old Taipei apartment.

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I think they will hold their value. I may one day buy one if I can afford it.

Where are you looking to buy?

Where exactly are old apartments 30 million?

Tianmu for example - 3 bed room gongyu apartments are 28 million and up.

28 million? Are you sure you don’t mean 2.8 million? That seems far too high for any apartment in Taipei unless you had like 8 rooms.

10 mill is the average for an old unimproved apartment. Tianmou? Who knows what the wannabes will pay…

The locals seem to care less about this, but my experience is that the older the building, the more issues one will get with humidity of all kinds.

If I would be in the position to be able to spend that kind of money, I definitely wouldn’t want to have a place where some days of strong rain result in mold growing all over the place…