Taiwan’s real estate sector in Taipei may see house prices rises of 15 percent in 2010. The demand it seems will come from a domestic market, Taiwan’s property market is only made up 0.2 percent of overseas property buyers
The property price prediction is more than in Singapore, Hong Kong and China, it is a result of demand and more competition among homebuyers in Taiwan’s capital, according to CLSA Ltd. analyst Tayher Lim.
An increasing number of would-be buyers and smaller sites being auctioned has led to stiffer competition in Taipei, Lim said today. The difficulty of getting land may result in developers holding on to existing land without building new projects, causing a further supply squeeze, he said.
“Compared to Hong Kong, Singapore or China, Taiwan has more variable factors,” Lim said in a phone interview. “Most buildings are freehold in Taiwan and the government doesn’t own a significant amount of land, so there’s less it can control.” He didn’t give a forecast for prices in the other markets.
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