Suggestions for area to buy in Taipei

OK, I give up. The area where I live is just too expensive, or rather, may I say, way over-valued. Gee, they are asking prices as if it was Tianmu or Xinyi.

Now, where would you suggest me to look for a biggish (3 bedroom at least) reasonably priced house, close to MRT lines, and NOT over-priced and trife with speculators? I can look at the price lists per ping, but it is hard to tell whether the area is really worth it. You know what I mean. I don’t want to have to go all the way to Rose Garden City or Sanxia or even Keelung to find a reasonably priced big house.

Also, if somebody has more experience, I am all ears.

When you say Taipei, I assume you mean Taipei city. You live in Xindian, right? That’s Taipei county, and if you consider that too expensive and over-valued, then good luck finding something cheaper in the city. The only areas in the city that may be cheaper than Xindian are Datong and Wanhua districts. Both have MRT access. Good luck!

Well, actually, Taipei city and Taipei county as a whole.

I like Tatong close to Shuanlien and Zhongshan MRT stations, and I’ve seen a couple of places that seem promising.Wanhua, I’ve been there, and I do not like the overall feeling.

Now, maybe I should rephrase the question: which area is still not ridiculously overpriced? I mean, there is a difference between getting your money’s worth and absolute nonsense. For example, a 30 year old, 20 ping no elevator place for 8 million in Xindian, IMHO, is una barbaridad (barbarian, highway robbery).

For example, let’s imagine I say: well, I’d like something in Tianmu. Which areas should I look for houses that have not have their prices especulatively manipulated beyond comprehension? Say, maybe since now the area around the new SOGO is the “hot” spot, maybe in Zhongshan section 7 it may not be as “coveted” or “especulative”.

Of course, if this line of thinking is not according to reality, again, I’m all ears.

I should let people with more knowledge than me respond, but I think you might ask yourself how many pings you want.

You mentioned 3 bedrooms. I’m guessing that if you want 3 bedrooms, you should be looking at 30 pings or more. If you look toward the ends of the MRT lines (Bitan, Mucha) or at least out of Taipei (Donghu, San Chung, Panchiao), you should be able to find good places that are less than NT$200,000 per ping. So, are you thinking NT$6 million for a 30-ping/3 bedroom, or do you want to spend less and/or get more space?

Do you (will you) have kids that you will send to local schools? Is a nice apartment or nice neighborhood more important to you? Would you most like to share your neighborhood with sandman, Muchaman, or jimipresley?

So many questions . . .

6 mil for 3 bdrms in Bitan? You MUST be joking!
Rose Garden City you’re looking at more like 20 million for a house. I have a friend living there in a 25 million place. 'Aint that big, neither. Does have front and back garden, though. Long way from the MRT though.

3 bedroom for at least 20 million in DaAn is the current norm. That’s just about 50 wan per ping. It would be similar in Neihu, in Nangang software park (new area) and in Xinyi districts too, so I guess you’re looking further afield. Good luck! Not a bad time to buy now if you’ve never owned before, but if you’re a current owner, and trading one house for another, then you never really make or lose as the prices are fairly similar for buyer and seller.

Be aware that the premium for living near the new Neihu line has already been factored into apartments along that line for about a year now, though it’s only slated to finally open in the next month some time, so thre’s not such a bargain to be had there.

As Sandman said… Bitan’s prices go from sublime to ridiculous.

20 million is way out of my league. If I could, then I would buy the 20 million places near my current house, brand new, picture window, double glass panels, all power grounded, humongous kitchens… Ok, wake up! As I said, out of my budget. 50 wan per ping … in Xindian.

Last time I checked, Rose Garden city still had 6 milion nt houses… gosh.

I live in 26 pings. An extra room would be nice.

That’s Taiwan, everything is good value except property. Well Taipei to be specific…
The gongyu go for high value because of land value even if they are piles of rotten concrete.

I sure don’t know that much about RE prices, but I do like to check out the average prices when I walk by RE agents. The last times I walked around Hsinyi and Da’An districts, I saw 700,000 and 500,000 per ping averages respectively. I know someone that spent a million per ping in Hsinyi recently. It’s a nice place, but I wouldn’t want to pay to live there.

From one article in mid 2007.

taipeitimes.com/News/biz/arc … 2003359618

Currently, standard apartments in buildings with an elevator in Taipei City cost between NT$400,000 and NT$500,000 per ping, while prices for the same type of apartments in Taipei County are NT$220,000 to NT$280,000 per ping, Su said.

Note: You really pay for having an elevator in Taiwan. Often, you pay again and again. First, for the purchase price. Then for the monthly bills. People pay a high premium for not walking . . . not walking up stairs . . . and not walking three blocks to the MRT . . .

I do have friends in Bitan that bought new at under 200,000/ping. But that was maybe 8 years ago.
How many people can afford a place that has a front and back garden anywhere near an MRT line? How many people can afford NT$25 million for a home? I know a couple that has a place in Rose Garden City + Chung Hsiao E. Rd. Sec 4 + three other countries. They can afford it; few others can. Many people in “Rose Garden Cities” just like to be very “house rich.”

from one article in 2008 . . .

globalpropertyguide.com/Asia … ce-History

Gross rental yields in Taiwan are unusually low, often a sign of an overvalued market. It would take 42 years of rent payments to buy an apartment - the highest price/rent ratio in Asia, exceeding even the levels of Hong Kong, Singapore, and Bombay, India.

So, it sounds like Taiwan is a great place to rent/terrible place to buy.

Uro said, “Be aware that the premium for living near the new Neihu line has already been factored into apartments along that line for about a year now, though it’s only slated to finally open in the next month some time, so there’s not such a bargain to be had there.”

I believe it. Everyone’s been thinking along the same (MRT) lines.

I know there are still many apartments to be had along the San Chung line for around NT$200,000 per ping. The (deep) downside is, it’s San Chung/Luzhou. If you don’t like the feeling in Wanhua, you won’t like the vibes in San Chung.

The most expensive places, especially those in Taipei, seem to be doing the best recently. For apartments in the county that are around 30 pings/6 million, it seems like the prices have not gone up in the last few years.

Good luck, Icon. I don’t know if now is a good time to buy or not, but at the prices we are talking about, it’s worth looking at many dozens of places before buying.

What zender said. The question you should ask is not where to buy, but when to buy. All the numbers (except the Taiex) are showing that the economy is still sluggish and unemployment rate is still pretty high. People’s salaries are stagnant. There’s no reason for property prices to rise continually. And a little bird just told me that property prices will plummet at the end of the year right after the local elections. :idunno:

You can buy a large house with garden for well under 10 million in some of the communities north of Danshui. If you go to City Real Estate in Danshui, they will take you to look at some. The communities are pretty run-down but if it’s space you want, it’s good value.

What zender said. The question you should ask is not where to buy, but when to buy. All the numbers (except the Taiex) are showing that the economy is still sluggish and unemployment rate is still pretty high. People’s salaries are stagnant. There’s no reason for property prices to rise continually. And a little bird just told me that property prices will plummet at the end of the year right after the local elections. :idunno:[/quote]

That’s the thing. All logic points to a descent in property prices. Yet, they keep on climbing -waiting for the golden Chinese pot of gold at the end of the rainbow, I suppose.

In the meantime, I can aspire to a very nice parking space… as a humble abode.

You’re not talking Bali, are you? :astonished:

You should also consider looking into areas near to the Luzhou-Hsinchuang MRT line. It’s still under construction and should be finished by the end of next year so property values should increase. We bought in Luzhou 3 years ago and have been very happy. New apartment in a new area, near to the river, not too crowded, good things to eat nearby, under 200k per ping, etc… but not many other foreigners about in the area (which doesn’t bother me).