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Kaohsiung puts NT$1.52 billion in development land up for sale before central bank meeting

From Liberty Times · () Chinese

Translated from Chinese and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • Kaohsiung will auction nine development plots across seven lots with a combined minimum price of NT$1.521 billion on Sept. 16.
  • The sites include residential, commercial and townhouse-development land near universities, transport hubs, parks and established neighborhoods.
  • Real estate broker Dai Chia-sheng said developers may be reluctant to bid because many sites are small, larger plots require cautious sales assessments, and companies have other ways to acquire land.

Kaohsiung has put nine plots of development land on the market at a combined floor price of NT$1.521 billion, with the auction scheduled for Sept. 16, one day before the central bank’s board meeting. The city’s Land Administration Bureau announced the sale as this year’s third-quarter auction of land in development zones.

The seven lots offer a wide range of locations and potential uses. In the Kaohsiung University area, the city is offering about 1,292 ping of residential land near Daxue East Road, Daxue 28th Street, Zhongshan Senior High School and the Wanjiafu shopping district. The bureau said river restoration, landscaping work, a new section of Provincial Highway 17 and the formation of the shopping district have gradually improved the area’s environment and transport links.

Xiaogang is another focal point. A roughly 973-ping commercial plot in the 89th Redevelopment Zone sits near Kaohsiung International Airport and Kaohsiung Port, an important gateway for outside travel and trade. Its regular shape allows flexible planning, while the district’s roughly 10-hectare Xiaogang Forest Park adds public facilities and leisure space. The bureau said the site could support a mixed residential and commercial building.

From the developers’ perspective, the development conditions are relatively limited.

· Dai Chia-shengHe assessed the predominantly small plots offered in the auction.

The 100th Redevelopment Zone includes two smaller residential plots, measuring about 85 ping and 171 ping, near Chaotanpi Flood Detention Park and Bagua Leisure Park. Both are suited to townhouse projects as parks, green spaces, waterways and detention facilities take shape. Three residential plots in Sanmin District’s 18th Redevelopment Zone are near Shihu Elementary School in a mature neighborhood where undeveloped land is scarce. Daliao and Linyuan each offer one additional plot.

But the sale may not attract strong developer demand. Dai Chia-sheng, chairman of the Republic of China Real Estate Marketing Association, said most offerings are small and therefore offer limited development conditions. The roughly 1,000-ping Kaohsiung University site also carries a relatively high floor price and faces heavy competition from existing projects. Developers, he said, may prefer other land-acquisition channels that offer more favorable prices instead of competing in a public auction.

Given the current overall housing market, developers’ willingness to bid in this auction may be low.

· Dai Chia-shengHe explained why the sale could attract limited interest.
About this summary

Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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