I’m thinking of buying property in Taiwan and was wondering if anyone knows what the protocol is for negotiating the price.
Do sellers actually expect to get their full asking price?
When making an offer, how much lower than asking price can you go?
Also, should you offer a lower price than you are willing to pay in anticipation of negotiation on the seller’s part or do you put your bottom line on the table right away?
I know that it depends on the seller and what his/her needs are, but are there general do’s and don’ts when it comes to negotiating?
Thanks to anyone with experience/knowledge in this area!
The asking price is usually based on the ping price, so that’s where it gets cut. The asking of an not yet built apartment building that has been recently purchased was 280,000 and that got cut down to 230,000. Every asking price is suppose to get bargained down as far as I know.
This is a question better suited for your Taiwanese SO/friends. There should be someone in your circle of friends that knows/is a “hardcore” realestate person.
I have a house for sale now. I won’t be flexible for at least another few months. Right now, I feel the price it is for sale for is quite reasonable. If it is flexible it is a very small amount. I am however not Taiwanese, my wife is though.
When I purchased this place, the price came down at most 10% and the second place I purchased the price only came down 5%. One other place I almost purchased, I even put down the down payment, the owner didn’t move at all. It was painful, but I still tried to purchase it for the purchase price. Incidently, in the same community just 6 months prior to this, I also paid the purchase price for a home and in the end, the seller backed out right before I was about to pay the deposit.
You know back home in the USA, the homes often go for above purchase price. I think it depends ont he property and the owners selling strategy. The real estate agent usually gives you a hint if there is room for negotiation. Most sellers in Taiwan leave room for negotiation.
Anyway, check out my place if you haven’t purchased yet and it fits into your budget.
[quote=“Taffy”][quote=“JoshTW”]Sirakwai: NT$1.1 million Click here to read more about it link-mm.com
If you like it, let me show you the place and we can talk about the price.[/quote]
NT$1.1m? I’ll take three!
Do you perhaps mean NT$11m?
Very nice place, by the way. Shouldn’t be too hard to find a buyer.[/quote]
Hahaha…yes, you are right. Thanks. NT$11m. Yes, I am not worried, it is a really special place for Taiwan, and there has been some people to look at it already.
11 Million is over my budget unfortunately. It’s a lovely place. If I was buying a place to stay in myself for the next 10 or 20 years, I would much rather have a place out in the hills like that, but as an investment, I think close to MRT and convenience is about the biggest concern I have. Good luck finding a buyer. It shouldn’t take too long.
Sirakai: This is only 20 minutes by car to Taipei 101 (thanks to the new tunnel to XinYi area from MuCha) and I don’t think you can get there that quickly from TienMu by subway. This is actually a great investment because in terms of price per ping, Xizhi still has room to grow. It sells for NT$200K per ping at the high-end now, but that is still a lot cheaper than most anywhere else. On the mountains, it is now illegal to build. So places with a view like this on the mountain will no longer be built. Likewise, people are more and more appreciating the clean air of places like this after living downtown for so long. XiZhi is at the intersection of three highways and extremely convenient for people with cars. If you don’t have a car, this isn’t the best place to live however, but with a car, you can be almost anywhere around the Taipei area in 30 minutes. Thats faster than most that live downtown to get to somewhere else.People with cars apprecaite that. I did, that was why I moved there, plus it was a good deal in terms of price per ping. That is what is bringing more people there and will continue to push up the price per ping until it is closer to the other suburbs of Taipei. There will also be a subway connection in the near future to just at the bottom of the hill from my place.
Xizhi is undervalued and rising in price per ping because not so long ago, XiZhi had serious flooding. That problem has been solved so prices are rising. Also the city keeps moving East. First it was XinYi area now it is the new Nangang Software park just at the edge of Xizhi only 10 minutes from where I live. It will be the new Taipei Trade Center for future conventions, there will be new malls, new hotels, as well as a new subway. Neihu is also moving in this direction towards Xizhi with new reclaimed open wasteland going on the market now for development just outside of Nangang which is next to Xizhi.
On the otherhand, Taipei downtown only rises very slowly for now, except at the high-end where people are bidding up the prices for new buildings as there are not enough supply for the demand, mostly only older buildings in Taipei. It did have a rise from its bottoms not so long ago, but now it is leveling off.
