A presale and new housing downturn in northern Taiwan is casting a long shadow as sales growth slows and supply mounts, the Chinese-language My Housing Monthly magazine said in a report yesterday.
Purchases of presale projects fell below NT$50 billion (US$1.68 billion) last month, although their number grew mildly from May, after the number of daily COVID-19 infections cases fell, the report said.
Fewer houses were completed last month, likely slowed by the virus outbreak, labor shortages and weakening sentiment, it said.
“People now assign more importance to rising inflationary pressures, interest rate hikes and negative wealth induced by the stock rout, now
The climate monitor for presale and newly completed houses last month signaled “green” for a second straight month, reflecting a sustained recovery in the market on the back of ample liquidity and low interest rates, the Chinese-language My Housing Monthly said yesterday.
The gauge increased 0.9 points to 43.1, staying in the steady growth zone, with almost all constituents reporting positive cyclical movements, it said.
Presale projects totaled NT$90 billion (US$3.23 billion), weakening slightly from September, but remaining at a high level, with more projects that could generate NT$1.5 billion in potential sales, the magazine said.
“Some developers opted to slam the brakes
Presale projects and new houses last quarter totaled NT$270.5 billion (US$9.65 billion) in northern Taiwan, rising 3 percent from three months earlier, in the latest signs that the market is emerging from the COVID-19 outbreak, the Chinese-language My Housing Monthly said on Thursday.
However, some negative effects of the outbreak still linger, it added.
The data suggested that a recovery is under way for this segment of the housing market, although more improvement is needed to catch up with the showing a year earlier, the property publication’s head researcher Ho Shih-chang (何世昌) said.
Developers and builders regained confidence compared with three months earlier