By Crystal Hsu / Staff reporterTaipei’s top luxury home projects are about to sell out following years of inventory corrections and price concessions, a report by the Chinese-language Housing Monthly (住展雜誌) said yesterday. The magazine defines extravagant homes as those valued at NT$2 million (US$65,563) per ping (3.3m2) and up. “The luxury home market is running out of stock as years of price concessions and inventory adjustments pay off,” Ho Shih-chang (何世昌), the magazine’s research manager said, in the report. Peace Palace (和平大苑), an urban renewal project between Yuanlih Construction Enterprise Group (元利建設) and private owners, that launched in 2016 is 70 percent sold, Ho said. The slow, but gradual recovery in the luxury home market has led developers to be less flexible on pricing, Ho said.
