Housing transactions in 2016 could hit new low: analystsTAIPEI -- Transactions involving residential and commercial properties in Taiwan could fall to a new low in 2016 as buying interest, particularly in northern Taiwan, remains weak, analysts said on Saturday. Transactions of homes, shops and offices in 2016 are likely to reach only 250,000 units or lower, compared with 292,550 units in 2015, analysts said. Taoyuan was the only one of the six cities to register an increase, recording a 7 percent year-on-year increase in housing transactions during the period. In November alone, housing transactions in Taipei, which is the most closely watched property market in Taiwan, fell 2.5 percent from a month earlier. Tseng said that while he expects home sales in 2016 to hit a new low, the local property market has been undergoing a correction for a long time, and could stage a technical rebound in transactions in 2017.

Source: The China Post December 03, 2016 16:27 UTC