However, the volume represents a 28.5 percent plunge from November last year, as interest rate hikes and economic uncertainty slowed purchase decisions. Transactions in the first 11 months of this year fell 7 percent from a year earlier, and the pace of retreat has been widening each month, Chen said. Taiwan’s central bank has hiked interest rates three times this year and is widely believed to make another increase later this month. The housing market in southern Taiwan enjoyed a two-year boom on the back of investment and expansion plans of local chipmakers and international equipment suppliers. H&B Business Group (住商不動產) research director Jessica Hsu (徐佳馨) said the lack of consensus over house prices have also dragged transactions.

Source: Taipei Times December 03, 2022 03:53 UTC