The data for last month should be the poorest this year, as they reflected mainly deals taking place in June when daily COVID-19 cases were high, analysts said. Compared with June, housing transactions in Tainan slumped 18.2 percent to 1,836 units and tumbled 17.6 percent to 3,452 in Taichung, data from local governments showed. Interest rate hikes tend to drive buyers to the sidelines, Chen said. Pundits are looking at two more rate adjustments this year barring a significant slowdown in consumer prices, from more than 3 percent now. Home deals in New Taipei City fell 12.9 percent to 4,697 units and declined 7.3 percent to 2,273 units in Taipei.

Source: Taipei Times August 02, 2022 16:56 UTC