New Taipei City was the most popular destination for relocation among the six special municipalities in the first half of this year, when 46,000 people moved to the city, Great Home Realty Co (大家房屋) said on Tuesday, citing government data.
A total of 659,000 people changed their address nationwide, and New Taipei City stood out as the top choice, compared with Taipei, Taoyuan, Taichung, Tainan and Kaohsiung, Great Home Realty head researcher Mandy Lang (郎美囡) said.
Lang attributed the trend to relatively affordable housing prices and better job opportunity outlook in New Taipei City.
Living in New Taipei City is cheaper than
Property tax revenue soared 89 percent to NT$17.4 billion (US$582.8 million) in the first six months of this year, buoyed by steep property price increases nationwide, which are expected to slow down in the coming months, as the central bank hiked interest rates, analysts said yesterday.
Taichung contributed the most to the revenue, with NT$3.55 billion, followed by New Taipei City’s NT$2.47 billion, Kaohsiung’s NT$2.3 billion, Taoyuan’s NT$1.91 billion, Taipei’s NT$1.81 billion and Tainan’s N$1.8 billion, Great Home Realty Co (大家房屋) said, citing data from the Ministry of Finance.
The spike in property tax revenue reflected housing price increases across Taiwan
Property transactions in the six special municipalities last month totaled 21,304 units, falling 6.7 percent from one month earlier, as COVID-19 infections and monetary tightening weighed on the market, data from local governments showed.
The figure represented a 15 percent decline from a year earlier, as the market last year received a boost from ample liquidity, low interest rates and stock market rallies, market watchers said.
Taipei was the hardest hit, with the number of transactions reaching 2,452 units last month, a 20.1 percent slump from May and a 17.4 percent retreat from a year earlier, Sinyi Realty Inc (信義房屋) research manager
Gifted and inherited properties last quarter increased 12 percent and 4.3 percent year-on-year to 15,481 and 14,952 units respectively, government data showed yesterday, as people appeared to be undeterred by stricter property tax terms while becoming more active in asset allocations.
The figures show a seven-year high following the introduction of combined property taxes, data on the Ministry of the Interior’s Web site showed.
The rise appears to be a result of increased financial planning by people with multiple homes as a way to help them cope with selective credit controls and rising inflationary pressures, Great Home Realty Co (大家房屋) head researcher
The Executive Yuan yesterday approved a draft bill to restrict transfers of presale and new housing contracts, and to impose heavy fines of up to NT$50 million (US$1.73 million) on unfair promotions of real-estate properties.
The move came one week earlier than expected, after housing prices picked up steeply across Taiwan in the past two years.
The draft amendment to the Equalization of Land Rights Act (平均地權條例), proposed by the Ministry of the Interior, still needs to clear the legislature before taking effect.
The draft bill aims to severely punish real-estate speculation, maintain order in the real-estate market and protect the rights of