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.