The cult of real estate ownership

For 3 million and with a condition that it must be bought outright, rural area is the only option. It will be a property that I can’t live in due to how remote they are, and if I can rent it, it won’t be for much. Conversely the property tax won’t be much either.

Wanluan is less than an hour by bus to Pingtung City and about 30 minutes by scooter. Chaozhou, a good-sized town of 50,000, is right next door.

I doubt that you would be able to get NT$10,000 in rent even if you could find tenants. You’d make more off bank CDs.

If you look at how few transactions have been made in Wanluan, there’s like less than 10 in the past couple of years, it’s not hard to imagine why it’s affordable in comparison.

Even so, the few transactions in the database still cost more than 230k per ping. That is the same as prices in Hsinchu and Zhubei 5 years ago. I’m pretty sure 5 years ago houses in Wanluan wouldn’t cost as much as brand new apartment complexes near Hsinchu Science Park.

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Where is this? If in Taipei, is 1.2 million for a parking space the going rate now? If so, that doesn’t seem like a huge difference from before (I remember hearing 1 million years ago).

Zhubei near the HSR station. Parking space for 1.2m is the going rate for so-so apartment complexes over 10 years old. Parking space for brand new apartment complexes costs even more.

The price for a parking space of a new building on the same road right across the HSR tracks.

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Holy crap, that’s a lot of money for a parking space.

That would actually be really cheap for Taipei. Spaces are 2 to 2.5mil in my building (NTPC).

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One would think that this would decrease car ownership…but I feel like it does the opposite. People living in these buildings are probably rich enough afford the parking space. This just increases the amount of parking spaces in the country.

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The only way to decrease car ownership is provide public transportation options, and reduce stroads.

Actually the amount of cars in Taipei is relatively low considering how many people and how dense it is.

My sense was that the standard price for a brand new toutiancu pretty much anywhere in Taiwan was about NT$10 million five years ago. Not surprised to see that the new standard price is NT$12 million now.

This is what a brand new thàu-thinn-tshù in the middle of nowhere (but really close to the science park) of Hsinchu county costed five years a go.

Larger house than the one from Wanluan, and was cheaper if we look at NTD per ping.

Today this is how much it costs.

By the way, if a thàu-thinn-tshù in the Hsinchu area is slightly less in the middle of nowhere, it would have costed at least 20m even 5 years ago.

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The average loan for a mortgage in Taiwan has hit a record high of about US$300,000. Taipei’s property market is the considered the second most expensive in Asia.

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