Zhubei's High Property Prices a Myth? Transactions Show Pre-Owned Homes Dominate Market

Zhubei City's real estate market presents a dichotomy between the high prices of new constructions and the reality of actual transactions, with pre-owned homes proving to be the main battlefield for buyers. While new projects in areas like the High-Speed Rail zone can reach staggering prices of 80,000 to 90,000 NTD per ping, the bulk of the market is driven by more affordable, established properties.

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The high-price impression of Zhubei mostly comes from a few prime areas like the High-Speed Rail zone, where new unit prices soar to 80,000 to 90,000 NTD per ping, magnifying market attention. However, actual transactions are still dominated by pre-owned products in the 40,000 to 50,000 NTD range, reflecting the affordability for most owner-occupiers.

Data from the past year reveals that homes priced in the 40,000 NTD per ping range have dominated sales, making up 40% of all transactions. These sales are concentrated in the mature secondary and tertiary zones of Zhubei, specifically around Zhuangjing and Shengli streets. Experts note that the perception of high prices is often amplified by a few high-end new developments, but the majority of buyers, particularly owner-occupiers, are gravitating towards these more accessible price points.

These older, established neighborhoods, typically 15 to 20 years old, offer distinct advantages over newer developments. They boast lower common area fees and larger interior spaces, often featuring 3 to 4-bedroom layouts. This makes them particularly appealing to families, those looking to upgrade their living situation, and individuals working in the tech industry who value practicality and affordability within their existing living circles.

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The secondary and tertiary zones were developed earlier, with most communities being 15 to 20 years old, creating a price difference compared to new projects in the High-Speed Rail zone and AI Park areas. This area has mature amenities, is close to major commercial districts, and has good school districts, making it a stable residential area in Zhubei.

Furthermore, the market dynamics are shifting towards greater rationality. Unlike the rapid price increases seen in previous years, sellers are becoming more pragmatic with their pricing, leading to increased negotiation room for buyers. This trend, coupled with stable community management and maintenance in well-established complexes, makes these pre-owned properties a more attractive and viable option for many seeking to purchase a home in Zhubei.

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In recent months, the market has not seen the continuous price chasing of the past two years. Sellers' asking prices are becoming more rational, and there is more room for negotiation on pre-owned homes, making entry conditions more favorable for owner-occupiers.