Kaohsiung property market shows slight increase in sales

Kaohsiung City's housing market may be showing signs of recovery, with the number of property sales and transfers rising slightly in the first half of 2024. The city recorded 16,350 transactions, a modest increase of approximately 4% compared to the first half of 2023, suggesting that the market might be moving away from its two-year downward trend.

Nationwide, Taiwan's property market saw a slight decline of 2.8% in the same period, with 97,438 transactions. Among the six major cities, only Kaohsiung and Taipei experienced positive growth. Kaohsiung's performance was particularly notable, showing the highest increase among these key urban centers.

The districts of Fengshan and Sanmin, which are the most populous in Kaohsiung, led the surge in transactions, with Fengshan recording 2,060 units and Sanmin following with 1,948 units. This sustained buying interest in densely populated areas is seen by real estate professionals as a positive indicator.

However, the district of Nanzi, known as a hub for Taiwan Semiconductor Manufacturing Company (TSMC) facilities, experienced a decline in transactions, falling from 1,934 units in the first half of last year to 1,701 units this year. Real estate agents attribute the overall market stabilization in Kaohsiung to price corrections attracting owner-occupiers back into the market, as speculative investors have largely withdrawn. Ongoing major construction projects and industrial transformation in Kaohsiung are expected to provide continued support for the property market, though its full rebound hinges on broader domestic and international economic factors.