Thank you @hannes for your input and esteemed estimation apropos value.
Enter city and then district.
Then hit red button (to right of brown one) and there you can type in 民樂街.
A bunch of transactions popped up.
For example, one in September went for NT$11.9mn at NT$390,000 per ping (really old at 47 years).
Enjoy.
2 Likes
So if we drill down further, you’ll note that there indeed schools in the area. Several, in fact.
Through friends and family, I’ve been offered 23000 NT for the 41.9 ping 1st floor and 16000 NT for the 32.9 fourth floor to rent out. (The fourth floor offering won’t include the fifth floor 20 ping add on).
What does everyone think bout these rates?
(Sometimes I forget how low rents are in Taiwan vis a vis the States!)
I’m sure there are people out there willing and able to pay warped figures if you make it worth their while to do so.
icon’s point is that you are looking at numbers meant for foreigners, but your target audience is local, which can eskew you understanding how much the property is worth.
there are apartments in Taipei that rent for 6,000 usd a month, but not in Yonghe…that’s why the rents you were offered are around 600 usd a month .
its difficult to estimate if the rates your family suggested are fair or not. at a glance they seem on the lower scale, but without seeing the property itself it’s hard to estimate rental price, many factors impact it (how run down is the building ? does it have AC?, how are the windows ?)
1 Like
Right, so those rents that were quoted are the rates that were offered to people that we’ve known for quite some time (so in a sense they’re almost like friend rates).
I did think they were on the lower end and wanted to adjust them accordingly, but I suppose there’s something to be said for long term associations and the stability thereof.
finding good, reliable and long term tenants is a major advantage.
second thing to consider is the condition of the building, was it ever renovated ? how is the wiring ? the pipes ? the bathroom ? the kitchen ?
without knowing the condition of the place its difficult to tell you if it’s a good deal.
1 Like
The wiring, pipes and all attendant fixtures were all replaced for the fourth floor property (and the fifth floor add on) in the late 1990s. I know for a fact it’s modern enough to have fiber internet to the premises cos that’s what my folks were using til they came to the States.
They knocked down some of the walls on the fourth floor property (during the late 1990s renovation) so the whole place feels very spacious/cavernous indeed.
I’m less certain bout the first floor property (that I wholly own, ironically enough.) Think some were replaced, perhaps not all.
fiber internet doesn’t mean much about the building, in TW they will just run the wire through the building or outside with little regard to how it looks.
The point is, if you want fair market price, it works both ways, you cant charge a premium on a run down property.
the price you were offered is low, but within reason for an old unrenovated property.
1 Like
What’s everyone’s opinion of the 社區巴士接駁車 (the free bus to the MRT)? What do you call it in English? Is there a website for it in English please? I’m getting cross eyed from trying to read Chinese. Not my forte, it must be said.
The 社區巴士接駁車 bus stop for the properties is bout a minute’s walk away. Quite convenient in that regard.
So we’ve established that the properties are perhaps not as centrally located as some others alluded to above (the Century 21 listings).
That said, I imagine the 社區巴士接駁車would render some benefit/added value vis a vis property valuation. Or are these sorta buses so ubiquitous as to render any would be benefits/added value moot?
I take the Community Bus in Yonghe all the time. Small van-sized bus with sometimes really bad drivers (low pay). The service is free and frequent (20~30 min. intervals) on our route. Drawback is they make a big loop around the district and it takes quite some time to get to the MRT. Most people will take a regular bus from Chenggong Road across the bridge to Gongguan instead.
4 Likes
Cheers mate. Thank you much.
If you don’t want to be ripped off come to Taiwan to sort it out , have a look at the condition of the buildings and get some estimates for agents. Most of these buildings are in bad condition and waiting to be redeveloped. If there is a plan for redevelopment would be good to consider it.
3 Likes
Thanks Bri. Yeah I’m learning that redevelopment may not necessarily be a bad thing. Was very much against it.
With all this talk of impending war between China and Taiwan, has there been a mad dash to sell off property? If that were to happen, would that cause a glut on the market?
From what I gather, it’s overseas Taiwanese that talk bout this. People that live in Taiwan go bout their daily lives with nary a care in the world (apropos this).
If or when you start looking to redevelopment, knowing you can tap the target buyer is key. So as you meet and talk to realtors about it, gauge what kind of database they have and how willing they are to use it for you. That’s where rapport comes in, which is a function of any personal ties you have with them + chemistry multiplied by your Mandarin ability (probably boosted by any Hokkien you can muster).
I imagined that you could target the Xinyi office worker (who prefers to ride a motorcycle than a subway) or students in Gongguan whose families want to set them up near but not to near the campus. I do not think the latter would be an easy to access group.
I don’t know anything about the Atomic Energy Council. Government workers (City and National) are also down the Keelung Road stretch all the way to City Hall. So that might be the kind of buyer you have in mind for a new building.
You might aim for 2 levels of parking for their cars, and maybe think of a way to make the frontage discouraging for parking scooters – like by attracting a storefront (ideally a 7-11 or FamilyMart, but that location may only attract a 2nd or 3rd tier convenience store like OK or Hi-Life). More likely, you can try to limit where bikes can park in front somehow, or maybe designate parking for residents (I’ve only seen this is very out of the way streets in Taipei).
I wonder how you could check how high you could build a new building.
1 Like
@Celeborn with some cerebral food for thought right there folks. Noted with gratitude. Thank you kindly!
No.
Guy
3 Likes
