A Wave of Small Brokerage Failures? Hai Yue Defies the Trend With NT$1.425 Billion in August Revenue, Up 5.4-Fold

While smaller property brokerages face a possible wave of closures, Hai Yue International is moving in the opposite direction. The company reported August consolidated revenue of NT$1.425 billion, a 540.56% increase from a year earlier, making it one of its strongest monthly performances this year.

Revenue from January through August reached NT$6.619 billion, up 80.61% year on year. Hai Yue said its brokerage business continued to advance in August, with projects including Baoya World Mansion and Datong New Era in New Taipei’s Zhonghe District, Hanhuang River Sky in Yonghe, Banglong Yongyue in Xinzhuang, Hongji Xiangyong in Hsinchu, Jusheng Zangfu in Taichung, and Puyan Yanqing and Cathay Yuanmei in Tainan. Sales performance met expectations, and the company will recognize related revenue progressively according to sales progress.

The company also has a substantial pipeline for the second half of the year. Projects scheduled to enter the market include Quanyang Symphony, Lianyun Huaisheng Section, and the Guomei Dejie Tingtou Road project in Taipei; Yangbei Jingheyuan in New Taipei’s Xindian District and Zhaopu Zhisen in Zhonghe; Zhaoyang Kai and Yuansheng Zhuoyuan in Taoyuan; and projects by Jutai in Zhudong and Dali Taiwan Fertilizer in Hsinchu.

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Operations in the second half of the year will be better than in the first half.

Construction revenue has provided another important source of growth. Since June, Hai Yue has recognized revenue from completed projects handed over to buyers, including Dunyong in Taipei, A3 Light Point in New Taipei, and Dali Future City in Kaohsiung. These projects continued to support July and August revenue. August also included handover recognition for Smile Hai Yue 2 and Taiwan Yinfu.

Hai Yue has increasingly diversified beyond brokerage by investing in property developments. The company said five investment-revenue projects began this year, with Dali Yucui in Taichung’s North District expected to launch before the end of the year. General manager Wang Chun-chieh said second-half operations should outperform the first half, citing the company’s recurring investment projects, vertical integration, and participation in developers’ early product planning. He also said Taiwan’s housing market has gradually cooled after several rounds of credit controls.

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The housing transaction market in Taiwan has gradually cooled after several rounds of credit-control policies, and the regulation has begun to show results.