The view has emerged after Taiwan's economic growth rate for this year has been slashed in forecasts by both the government and private think tanks, most of which are predicting that this year's growth will barely stand at 2 percent.
Meanwhile, other factors, including Taiwan's GDP contraction in the second quarter as well as China and South Korea's move to lower rates, have prompted experts to predict Taiwan's central bank will also do the same.
Mucha Man wrote:SillyWilly wrote:How do I know house prices will drop? Simple, take a drive through Linkou and see all the new, unfinished apartments - EVERYWHERE! Some of the newer finished buildings have had 20-30% occupancy the last 12 months and with new units coming online - those numbers are bound to drop even further. Some buildings have as few as 5 tenants. Linkou is starting to look like Vegas-style overbuilding. And we all know what happened when THAT bubble burst...ouch! Las Vegas real estate is still down over 50% from its peak. The Linkou property market is going to get clobbered..MRT..or no MRT. The overbuilding is really ridiculous especially considering new apartment building construction is starting soon and apparently interest rates are reversing (or at least starting to reverse).
I agree in the long run it has to. But Danshui and Sanxia are no different in terms of over-construction and they have not burst yet. It could still be many many years.
Taiwan now has 1.56m + unoccupied housing units. Of which half is possibly in Linkou...
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