{"id":19070,"date":"2016-07-08T11:13:09","date_gmt":"2016-07-08T04:13:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/taiwan-commercial-real-estate-on-a-slowdown\/"},"modified":"2016-07-08T11:15:56","modified_gmt":"2016-07-08T04:15:56","slug":"taiwan-commercial-real-estate-on-a-slowdown","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/taiwan-commercial-real-estate-on-a-slowdown\/","title":{"rendered":"Taiwan commercial real estate on a slowdown"},"content":{"rendered":"


\nDespite general market lethargy, one development is bringing home the bacon
\nThe Taipei skyline at night. Ludovic Lubeigt (Flickr)
\nCommercial property in Taiwan turned over NTD25.18 billion (USD776.99 million) from April to June 2016, a three-fold increase from the same period in 2015, the Taipei Times reported.
\nHowever, one big-ticket transaction mostly accounted for such impressive numbers.
\nTaiwan Life Insurance Co\u2019s acquisition of a mixed-use skyscraper in Kaohsiung for NTD16.5 billion (USD510.8 million) in May has given the Taiwanese market a boost at a time when it needs it most. According to DTZ Taiwan, the purchase made up 65.5 percent of all commercial property sales in the last quarter.
\nTransactions with tech companies mostly accounted for the rest, with acquisitions by Powertech Technology Inc and Avalue Technology Inc among the most significant deals.
\nTaiwan Life Insurance Co\u2019s new property is one of the ten tallest buildings in Taiwan, towering 42 storeys above Kaohsiung. A hotel and department store holds a 20-year lease within the building.
\nMore: Why Taiwan\u2019s market may be facing a long-term slump
\nOn 30 June, Taiwan\u2019s central bank cut its benchmark interest rate for the fourth time in nine months. Although it dragged mortgages down, the cut of 12.5 basis points has done little to break through to sellers. Property prices in Taipei remain high despite a slump in the country\u2019s exports and significant hikes on property taxes.
\nHome prices have almost tripled in the last two decades, with the Taiwanese capital having a higher house-price-to-income ratio than New York City.
\nThe standoff between sellers and buyers might not be for long though. CBRE Taiwan managing director Joseph Lin has suggested that sellers may eventually relent and slash prices by 10 percent.
\nIn addition, DTZ Taiwan general manager Billy Yen believes that the market might see \u201cthree years of modest price corrections and an extra four years of consolidation,\u201d the Taipei Times reported.
\nRead next: Where have Taipei\u2019s real estate buyers gone?
\n
\nSource : property-report.com
\nRead more…Taiwan commercial real estate on a slowdown<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite general market lethargy, one development is bringing home the bacon The Taipei skyline at...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-19070","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-4XA","jetpack-related-posts":[{"id":43327,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/taiwan-defies-property-curbs-with-an-impressive-rise-in-sales\/","url_meta":{"origin":19070,"position":0},"title":"Taiwan defies property curbs with an impressive rise in sales","date":"February 8, 2017","format":false,"excerpt":"\r It\u2019s not just Mainland China that\u2019s feeling the heat Fireworks from Taipei 101 on New Year\u2019s Day 2017. 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