Renewal projects hit 65% in TaipeiBy Crystal Hsu / Staff reporterPresale and new housing projects in Taipei totaled NT$189.8 billion (US$6.43 billion) in the first seven months of this year, with urban regeneration projects accounting for 65 percent, as they increasingly become the main source of properties due to a shortage of new land, the Chinese-language My Housing Monthly reported yesterday. Renewal projects based on old and dilapidated houses in Taipei reached NT$124.2 billion from January to last month, supplying a record 65 percent to the city’s new housing volume as idle lots of land are hard to find, the magazine said. Photo: Hsu Yi-ping, Taipei TimesIn the past, time-consuming regeneration projects were a secondary concern, but they have gained importance over the past few years after policymakers provided regulatory support and banks are eager to supply funding. Renewal projects last year accounted for 43 percent of presale and new housing, up from 33 percent in 2018, the magazine said. The scarcity of land leaves developers interested in Taipei with no choice but to turn old and unsafe buildings into sources of new housing projects, Ho added.

Source: Taipei Times August 13, 2020 15:56 UTC