Chiayi East District Redevelopment Boosted by Tax Breaks and Land Auctions

Chiayi City is pushing forward with its "East District Great Progress" initiative, focusing on the JianGuo Second Village and FuXing Second Village redevelopment zones. These areas will see land value tax revert to standard rates from 2027, with a two-year reduction by half until 2028. This move follows the successful auction of 9.3 hectares of land in these zones, which fetched nearly 1.4 billion yuan and saw an average premium rate of 61%, indicating strong developer and public confidence in the area's future. The redevelopment aims to create a large-scale, integrated development near the KANO Park and Chiayi Park, fostering a competitive investment environment. The city is offering incentives like development timeline and floor area bonuses for large-scale projects, particularly those achieving silver-level green building certification and Level 1 building energy efficiency. Mayor Huang Min-hui highlighted the successful land sales as a sign of anticipation for the area's growth. The city plans to preserve local history by building a "Veteran Village Life Culture Hall" while also urging the Ministry of National Defense to explore more comprehensive land development models for the remaining state-owned land to maximize the area's value. Market data shows that due to limited new land supply and a preference for the East District among high-net-worth individuals, housing prices in the area, especially along ChuiYang Road, have reached 530,000 to 570,000 yuan per ping, with some pre-sale units selling for up to 544,300 yuan per ping.

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The successful auction of all 3 land parcels in JianGuo Second Village this year, totaling nearly 1.4 billion yuan, also shows everyone's attention and expectations for the future development of the JianGuo Second Village and FuXing Second Village surrounding areas.