Taipei Housing Prices End Decline, Pre-Sale Average Surges Past 1.3 Million NT Dollars

Taipei's real estate market has shown signs of recovery, breaking a four-quarter streak of declining prices. In the first quarter, the city's housing price index reached 127.16, marking a 0.22% increase from the previous quarter. This stabilization marks a significant shift after a period of downturn. The average price for pre-sale homes across the city climbed to 1.3022 million New Taiwan dollars per ping, a 3.38% rise from the prior quarter. Despite this upward trend, overall market transaction momentum remains conservative.

The stabilization is occurring against a backdrop of cautious banking policies and stable central bank interest rates. While credit controls are showing effects, lending policies remain prudent. Nine out of Taipei's ten administrative districts saw price increases in the first quarter, a notable improvement from the previous quarter where only four districts experienced growth. Beitou District recorded the highest increase at 0.85%. The average price for standard housing units rose slightly to 650,000 NT dollars per ping, though a divergence in product types is evident. Apartment prices saw a slight decrease, while condominium prices edged up.

In the pre-sale market, transaction volume decreased by 17.14% compared to the same period last year. Beitou District led in transaction volume, a position it has held for four consecutive quarters. However, areas like Neihu and Xinyi experienced the lowest transaction volumes due to a lack of new property supply. The price rebound in the pre-sale market was particularly strong in Beitou, with a 7.11% increase, partly attributed to the confirmed relocation of a Nvidia headquarters to the Beitou-Shilin Technology Park. This development highlights the growing influence of the technology sector on the local real estate landscape.

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The current housing market is gradually returning to rational development. Developers will pay more attention to product planning and market demand, and the agency industry will gradually shift from sales-oriented to professional services, value communication, and consumer trust as its core.