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Housing prices skyrocketing in Taiwan, China
Publication Date : 06-03-2013
Property values continue to rise in Taiwan and China, with Shanghai taking the lead at an average NT$567,000 (US$19,088) per ping (3.305 square metres), despite the best efforts of governments on both sides to keep prices in check, according to a local real estate agency.
Housing prices in Taipei rank second at NT$562,000 per ping, followed by Beijing at NT$527,000 per ping.
In the past year, housing prices in Taipei rose 4.1 per cent, while properties in Beijing, Shanghai and Shenzhen saw increases ranging from 8 to 11 per cent in the same period.
Housing prices are expected to continue rising this year, due to the loosening of regulatory policies and increased cross-strait commerce, leading to an increase in demand for housing and rentals on both sides, according to a Taiwan-based real estate agency.
While they may help to slow the pace of rising housing prices, government policies will not have a significant impact, as the markets in China and Taiwan grow increasingly interconnected, the real estate agency said, adding that they have begun to collaborate with realty firms in China to expand their revenues.