headhonchoII wrote:Don't the construction companies work with banks to offer lower interest deals/sweeteners, might have been what happened there? But interest rates are really very low in Taiwan anyway. Which is precisely the reason why property prices have increased so much. It's all about the cheap money.
Hi my englisch is not that good, but I would say that the house prices are so high because banks owning them and if they listing them high it looks nice in their balance sheets. Even if somebody take debt and buying it, the house belongs to the bank until it´s paid off.
If I would buy a house here, I would do it like the real estate agents. I would conjure me a shadow in the face like they do and put signs everywhere in the streets with my phone number on it, like " I´m looking for a house in this area / price up to 3 000 000NT / 5 rooms / 50 pings " and I guess you will get a lot of phone calls from private people and companies. Taiwanese people like to double the prices, but not with me.
And because of rising prices, I think house prices here will drop in long term because of the demographic. Many buildings are empty and less couples are getting kids, means in 20 more years you will have more houses because they will keep going build houses to stimulate the dead local economy and less people who will buy a house later.
I also planned to buy a house but I thought about it. A Strong NT$ means high housing prices. So I put my money into USD first at 28.85 per USD and wait until Taiwan facing the truth. Average Dollar price was always 32/33 best was at 34/35.
3 000 000NTD / 29.5 = 101 500 USD x 33 = 3 350 000 NTD @ droping house prices.
To me, Taiwans economy outlook is not good and they have to import everything. Sooner or later the NTD will follow the rules.