Taipei, Transactions in residential and commercial properties in Taiwan's six special municipalities in June fell more than 10 percent from the previous month in the wake of a relatively high comparison base in the previous month, as well as caution over the economy, according to local government land departments.
In addition, due to intense campaigns by presidential contenders from both the ruling Democratic Progressive Party and the opposition Kuomintang for the 2020 presidential election, many potential home buyers retreated from the market amid fear of increasing political uncertainty, market analysts said.
Data compiled by local governments on transactions of homes, shops and offices in Taipei, New Taipei, Taoyuan, Taichung, Tainan and Kaohsiung shows that transactions totaled 19,127 units in June, down 13 percent from a month earlier. The June figure, however, was up 2.0 percent from a year earlier.
In May, sales of residential and commercial properties dropped 14.9 percent from a month earlier in the wake of deferred buying from the first quarter.
In June, housing transactions in Taipei, the capital city, which is the most closely watched property market in Taiwan, stood at 2,432 units, down 11.3 percent from a month earlier but up 10.3 percent from a year earlier, the data shows.
On a month-on-month basis, sales in the Da'an, Beitou, Wanhua and Zhongzheng districts of Taipei suffered a steeper month-on-month decline in housing transactions in June, the data indicates.
New Taipei, the most populous city in the country, saw its residential and commercial property transactions falling 10.8 percent from a month earlier and dropping 11.3 percent from a year earlier to 4,992 units in June, while Taoyuan sales stood at 3,432 units, down 6.4 percent from a month earlier but up 10.2 percent from a year earlier.
Taipei, New Taipei and Taoyuan are in northern Taiwan.
In Taichung, central Taiwan, transactions of homes, offices and shops fell 20 percent from a month earlier to 3,314 units. The June sales, however, were up 0.7 percent from a year earlier.
In the south, housing transactions in Tainan stood at 1,910 units, down 13.8 percent from a month earlier but up 6.8 percent from a year earlier, while sales in Kaohsiung fell to 3,047 units, down 16 percent from a month earlier and down 12 percent from a year earlier.
Despite the month-on-month decline in June, transactions of homes, offices and shops in the six special municipalities for the first half of this year rose 6.6 percent from a year earlier to 110,222 units, according to the data.
Kaohsiung was the best performer among the six in terms of sales growth, recording a 20.1 percent year-on-year increase, while Taipei was at the bottom with sales down 0.1 percent, the data shows.
Hsieh Chih-chieh , a senior manager with property sales agency Yung Ching Group, said that while housing transactions between January and June grew, the local property market is expected to remain haunted by the threats arising from global trade issues in the second half of the year.
With the presidential election scheduled for next Jan. 11 approaching, Hsieh said, property buying could be further capped in the second half of the year.
Source: Focus Taiwan News Channel