Kaohsiung's completed housing market shows signs of recovery, with prices reaching new highs in some areas

Kaohsiung's property market is exhibiting a noticeable recovery, with May recording a significant 24% month-on-month increase and a substantial 41% year-on-year rise in property transfer transactions. This surge, reaching 3,188 units, signals renewed buyer interest and activity in the completed housing sector.

Adding to the positive trend, certain areas within Kaohsiung have witnessed new and existing home prices hitting record highs. Notably, a new high of NT$421,000 per ping was recorded for a high-floor unit in the "Ding Yu Sen Garden" project in the Qiaotou New Town area. Similarly, a中古 luxury apartment in the Qianjin District, "Guo Tai O2," saw a record NT$519,600 per ping for a high-floor unit earlier this year. These price points reflect increased demand from both upgraders and affluent buyers.

“

Since the central bank's first-quarter board meeting, the mortgage limit for second homes was relaxed to 60%. Since late March, we have observed deferred buyer demand gradually returning to the market. Coupled with the wealth appreciation effect from the stock market, it has somewhat benefited the property market.

Industry analysts attribute this market rebound to several factors. The central bank's easing of second-home mortgage limits in the first quarter has encouraged deferred buyer demand. Furthermore, wealth appreciation from the stock market has provided a financial boost for potential property investors. Experts like Tseng Ching-te from Sinyi Realty anticipate a stronger second half of the year, particularly if government policies aimed at curbing property speculation are relaxed.

Despite the overall positive signs, some areas like Nanzi and Renwu, which have seen significant new construction, are experiencing price consolidation due to reduced buyer enthusiasm. However, properties with prime locations, unique features, or those from established developers continue to maintain strong price support, indicating a market driven by specific project strengths rather than a uniform boom.

“

From last year to now, affected by credit control policies and market wait-and-see sentiment, Kaohsiung's overall buying interest has significantly cooled. Many administrative districts' housing prices face downward pressure, especially in Nanzi and Renwu districts where new housing supply has continued to expand. With buyers' willingness to chase prices decreasing, prices inevitably enter a consolidation phase.