per ping rate for your area

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Re: per ping rate for your area

Postby Icon » 18 Apr 2011, 11:36

Re: speculation. As long as they sell, I don't feel that bad, but pardon my French, damn, who the heck is buying at those prices?!

In line with the government's efforts to dampen short-term realty speculation, the TNTA has set its crosshairs on presales of housing units in recent months, finding over 40 cases of tax evasion by those who profited from the short-term transfer of their ownership of presale housing units. The TNTA has collected fines of NT$110 million and short-paid taxes of NT$230 million.

TNTA officials said that one buyer of a luxurious home managed to rake in profits of up to NT$50 million within only eight months.

The buyer ordered a presale luxurious housing unit from the upscale Yuanta I Pin Building in downtown Taipei at a price of NT$125 million in March 2007, but transferred the ownership to another person at the price of NT$180 million eight months later, after paying only NT$12 million to the development company during the construction period.

Another buyer put down only NT$2 million for each of five presale housing units priced at NT$16 million each in February 2008, but the buyer managed to offload two of the five only three days later at NT$18 million apiece, translating into a net profit of NT$2 million for each house sold.


http://www.chinapost.com.tw/taiwan/nati ... horred.htm
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Re: per ping rate for your area

Postby cranky laowai » 18 Apr 2011, 11:53

Icon wrote:who the heck is buying at those prices?!

I often ask that same question. Yesterday I was asking about the price of an apartment in a fancy new place to be built in Tianmu. (I was just curious, not so delusional that I ever imagined I could afford one.) Asking price: NT$2 million per ping.
Yet, somehow some people are buying those places.
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Re: per ping rate for your area

Postby Icon » 18 Apr 2011, 14:21

Yes, mindboggling indeed.

Especially if you think that there must be some kind of collusion between the building companies and the speculators. You have a single person buying the whole building, you cannot make big profit like he does, right? So what is it for them to be so happy to sell to a single person? It is not as if they are not going to have buyers. Or is it that the quality is so low they rather build value on hearsay than reality? Otherwise, being "close" to MRT or whatever -even if it is 10 years ahead- wouldn't be a buying point so willing to lie about. And certainly, wouldn't put t past them to compete in "convincing" the G'ment officials as to alter the transportation routes... So what is the big deal in selling early and cashing on their investment so soon? Do they have so little faith in the real estate market? That should bring prices down, not up. Why are they selling at a discount to this one single investor?

Then you have th epeople that have bought from the investors at 4 or more times the original price. Is it because of real value or perceived value? Are these shoppers really doing their homework? What other forces are at play here? Then you have to look at collusion of mayor real estate companies with invetsors and/or building companies -as they are so proud in selling to a single person.

And most importantly: why is this not translating in a general improvement in services and environment? I am reading some intersting stuff on the percentaneg of homes in 1980 that were 10 years old, 20 years old, etc. divided by number of floors, etc. I wonder where can one find such data. For all the building and remodeling and demolitions, I still perceive a majority of old, decrepit structures, punctuated by a few newer ones. And the newer buildings' conditions are mostly not ideal. So, what is the benefit of such expensive things if there are no improvements to back it up? It is just inflationary mirages.
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Re: per ping rate for your area

Postby Incubus » 18 Apr 2011, 14:39

cranky laowai wrote:
Icon wrote:who the heck is buying at those prices?!

I often ask that same question. Yesterday I was asking about the price of an apartment in a fancy new place to be built in Tianmu. (I was just curious, not so delusional that I ever imagined I could afford one.) Asking price: NT$2 million per ping.
Yet, somehow some people are buying those places.

Deep pocketed investors from across the strait under the guise of local investors? :ponder:
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Re: per ping rate for your area

Postby Rotalsnart » 19 Apr 2011, 01:02

Icon wrote: For all the building and remodeling and demolitions, I still perceive a majority of old, decrepit structures, punctuated by a few newer ones. And the newer buildings' conditions are mostly not ideal. So, what is the benefit of such expensive things if there are no improvements to back it up? It is just inflationary mirages.


I'm of the beware of the newer buildings camp. You mentioned Luzhou earlier in the thread. I think that is a really interesting area to look. Especially if you can get further up the river [edit: I actually meant "downriver", here i.e. heading "up" toward the mouth of the Danshui on a north-oriented map], possibly with a view of Bali/Yangming Shan If I were looking for a place today, after my current neighborhood (that I've already gone on at length about in this and other threads), I'd probably be looking at 30 to 40 year old walk-ups, preferably with a rooftop addition, along the green river corridor in Taipei County from the Erchong Shuhongdaolu up toward Bali. Not all of the old buildings are decrepit. Many of the buildings built 40 years ago are, in my modest experience (after living in over a dozen apartments around greater Taipei), the solidest buildings around. Plus, you will own a nice few ping of land, unlike in the highrises.
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Re: per ping rate for your area

Postby Incubus » 19 Apr 2011, 11:35

Rotalsnart wrote: You mentioned Luzhou earlier in the thread. I think that is a really interesting area to look. Especially if you can get further up the river, possibly with a view of Bali/Yangming Shan . . . along the green river corridor in Taipei County from the Erchong Shuhongdaolu up toward Bali.

You mean down the river toward the mouth of the Danshui, right? Up the river from Luzhou is Sanchong, the armpit of Taipei. :wink:
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Re: per ping rate for your area

Postby Rotalsnart » 19 Apr 2011, 12:53

Sorry, yes, I did mean "downriver" (i.e. further "up" toward the mouth of the Danshui if looking at a North-oriented map).
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Re: per ping rate for your area

Postby citizen k » 19 Apr 2011, 15:18

Actually, I'd even go so far as to say that Bali is preferable to both Danshui and Hongshulin at the moment because of the new express way. No idea what values are like there, but both Danshui and Hongshulin seem quite high. Both places that are highly developed and sold off, but generally quite empty... :neutral:
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