Real estate in Kaohsiung

[quote=“Lo Pan”]

Yeah… I used your numbers… I assumed you a good reason for choosing them

Even I rent in Taipei because my rent is a small fraction of what the mortgage would be. There is a massive disconnect most of the time here in rental yields. In my case, the rent is so low on my current place that the freedom to move at will far exceeds the benefits of owning a place here… so instead I own in the US and will likely break down and eventually buy here as well.

…but if I were able to find a magical land where the prices/payments you quoted initially were correct, the choice would, as you said, be obvious. I’d buy every time.

Owning a house is most definitely a form of investment/savings… If you rent all your life and when you get to 70, you have nothing and still have to work to pay rent. If you pay a mortgage until youre 70, you own an asset that might have some capital appreciation or loss (sounds like an investment to me) but you own an asset thats worth something. You can sell that asset and use the proceeds to then pay the rent on an apartment and have some money to live on without working.[/quote]

Are you suggesting that the money saved by renting instead of buying was just flushed down the toilet. Did the down payment get flushed as well? Buying is a great option in the right market and for the right person but it’s not the best option.

I don’t understand why the OP is in such a hurry to buy a place in a country where he has lived for two weeks and doesn’t know much about the area that he is buying. It just doesn’t make sense.

Certainly. I live in the sticks of Kaohsiung City and pay 6000/month to rent a three story house. It’s a bit old but it suits my needs quite nicely. New houses in the area are going for 7-9 million. Assuming I lived another 40 years and stayed here, I’d spend 6000 x 12 x 40 = 2.88 million. Sure, it leaves me with nothing, except all the money I saved by not giving interest to the banks. On a 6 million dollar loan you’d be looking at around 15 000 NT a month just in interest when starting to pay it back. For this reason, buying a property as a rental investment also seems like not so wise an option. Probably better ways to invest.

[quote=“Abacus”][quote=“Lo Pan”]

Yeah… I used your numbers… I assumed you a good reason for choosing them

Even I rent in Taipei because my rent is a small fraction of what the mortgage would be. There is a massive disconnect most of the time here in rental yields. In my case, the rent is so low on my current place that the freedom to move at will far exceeds the benefits of owning a place here… so instead I own in the US and will likely break down and eventually buy here as well.

…but if I were able to find a magical land where the prices/payments you quoted initially were correct, the choice would, as you said, be obvious. I’d buy every time.

Owning a house is most definitely a form of investment/savings… If you rent all your life and when you get to 70, you have nothing and still have to work to pay rent. If you pay a mortgage until youre 70, you own an asset that might have some capital appreciation or loss (sounds like an investment to me) but you own an asset thats worth something. You can sell that asset and use the proceeds to then pay the rent on an apartment and have some money to live on without working.[/quote]

Are you suggesting that the money saved by renting instead of buying was just flushed down the toilet. Did the down payment get flushed as well? Buying is a great option in the right market and for the right person but it’s not the best option.

I don’t understand why the OP is in such a hurry to buy a place in a country where he has lived for two weeks and doesn’t know much about the area that he is buying. It just doesn’t make sense.[/quote]

That’s exactly right. I don’t know the areas that’s why I’m not buying right now but I’m here asking for your input. It’s a commitment that requires lots of homework and I’m starting now. I grew up here when I was younger but just came back for 2 years. Although a lot has changed, I think I’m still somewhat familiar with the culture and lifestyle. Just haven’t kept up with real estate and the countless new development. I have a place (which took me 6 months to find!) overseas that’s getting me nice return and I know I won’t get that here. But I’d like to move my family to a nicer area at the same time be putting money towards equity. If it’s the wrong time to buy, then no problem, there’s no hurry. But I’d like to determine that first. The 2 weeks is just to show I’m a total noob when it comes to the different areas :slight_smile: not necessarily housing, renting, or financing. Just want to find out more on the market here right now,maybe +/- 10 years and the different locations.

Love the cool weather so far!

Here my 2 cents

We were looking for an apartment back in 2009 and it took me almost half year doing research and checking places.
Just one example:
There is one building company who name their buildings always by using “Patek …” According to my friends the building quality is quite good (King building company eg has quite a bad reputation).
Price back in 2009 was starting at 12.5 萬 / ping and the highest floor was 15 萬. Those price you could bargain down a bit.
Owners now are asking for 20 萬 second hand. Ok, places likely got interior, but still, wow
That building is Patek of rarity glamour (silly name)

A few meters away is an almost new Patek Glamorous, starting price is 20-23 萬

Bubble? For sure, surely not that overheated like Taipei.

If you can, wait until this cool off. There is a lot of construction going on in KHH and
most of it is in the higher price range.

Here my 2 cents

We were looking for an apartment back in 2009 and it took me almost half year doing research and checking places.
Just one example:
There is one building company who name their buildings always by using “Patek …” According to my friends the building quality is quite good (King building company eg has quite a bad reputation).
Price back in 2009 was starting at 12.5 萬 / ping and the highest floor was 15 萬. Those price you could bargain down a bit.
Owners now are asking for 20 萬 second hand. Ok, places likely got interior, but still, wow
That building is Patek of rarity glamour (silly name)

A few meters away is an almost new Patek Glamorous, starting price is 20-23 萬

Bubble? For sure, surely not that overheated like Taipei.

If you can, wait until this cool off. There is a lot of construction going on in KHH and
most of it is in the higher price range.

Thanks. Any good Taiwanese sites with info on market analysis? Would you guys buy new or used? It seems that Taiwanese buyers put a lot more emphasis on new construction than used.

I would buy foreclosed. :discodance: That or a “murder house.” Superstition drives the prices for murder houses (凶宅) down, but I haven’t seen a comprehensive listing anywhere, probably because demand is so low.