Ko Wen-je's commercial property sale price sets record, sparking 'housing justice' debate

Former Taipei Mayor Ko Wen-je faces accusations of profiting from a commercial property purchased with funds from his presidential election campaign. Internet personality "Four Cats" (Liu Yu) alleged that Ko sold the property, bought for NT$43 million, for a profit, raising questions about his public stance on "housing justice."

Ko initially purchased the commercial office space in Taipei's Jinan Building two years ago, using a portion of the NT$110 million in election subsidies his party received. He stated at the time that the property would serve as an office for his party members and that owning it himself would allow for greater oversight. However, "Four Cats" revealed that the property was never used by the party and was sold on April 10 for NT$43.8 million. Combined with rental income collected over two years, the estimated profit is over NT$2 million.

Further scrutiny came when "Four Cats" posted historical transaction records showing that the per-ping price of Ko's sale set a new record for the building. This led to public questioning of Ko's commitment to housing justice, with critics on social media suggesting his advocacy was merely a slogan. Some commenters pointed out that the profit was made on a commercial property, not a residential one, attempting to differentiate it from typical housing speculation.

The property was initially leased to a company run by a former aide to ex-legislator Lo Fu-chu. The Taiwan People's Party responded that, based on the principle of "sale does not break lease," the tenant was allowed to remain until the lease expired. However, the tenant later faced issues with rent arrears and refused to vacate, leading to mediation and legal proceedings. The company eventually moved out in September of the previous year.

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The per-ping price Ko Wen-je sold this commercial property for set a new historical high for the China Navigation Building (Jinan Building). Can I now say that Ko Wen-je, who most loves to shout about housing justice, is speculating in property? If not, I'll ask again later.