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The Way Forward For Real Estate In Taiwan

Sep 1, 2008
A construction group in Taiwan has recently launched several upscale construction projects. These properties for sale in Taiwan will be some of the most innovative and luxurious available in the country, and a market with lower real estate prices than in neighbouring countries like South Korea and Japan should mean that there is healthy demand for the projects.

Farglory's property for sale in Taiwan consists of homes in the Yale community in Sanxia, a suburb of Taipei. This development is noteworthy for its artistic landscape and community garden. The DHF Digital Fiber Home in Linkou is touted as a vanguard technological community in Taiwan. The Asia Trend is another development; situated in the Xinyi district and offering the amenities of a five-star hotel to ordinary residents. The SKY mansion in Neihu is another, and is located in the fastest growing area in Taipei. All of the projects share a common goal, which is focused on the resident and the outcomes for the people that they matter to most, rather than the pockets of developers alone.

Planning is the key difference between these developments and many other properties for lease in Taiwan. Lack of community and residential planning has made much of the city a 'hodge-podge' of public spaces and buildings, commerce and residential areas mixing. The chairman of the company responsible, Chao Teng-hsiung, believes that the only way forward is to start from scratch. The company is putting its money where its mouth is, with more construction projects to come in Linkou and Sanxia in suburban Taipei. Thousands of families will benefit from the planning and perfection that go into these developments.

Matsushita is a Japanese design company, creator of the famous Eco-friendly and Universal design (EU) house design. Matsushita has partnered with Farglory, and the design will soon be incorporated into all of the new developments.

Taiwan has been keen to promote property development opportunities in Asia, with a new president that is looking to promote closer economic ties with China, cashing in on the economic growth on the mainland. Other property developments in Taiwan that are receiving attention include a commercial leisure complex in the city of Taichung, and a yachting-theme park complex near a bay in the southern city of Pingtung. These developments, along with the new sites, are expected to not only improve the standard of living for Taiwanese, but to boost tourism to the country and help a flagging economy.

High construction material prices have held back some developments, however, with agents listing property in Taiwan calling on the government to resolve the issue of high construction costs, or face the consequences of an overheated property sector. For sellers, of course, the high prices have been a blessing, however it is always a fine balance between maintaining high prices, and having the demand to sell property at the inflated values. This is a challenge that must be recognized. Five-star developments will not find a market if cost of living is too great for ordinary citizens. These developments are of such a scale that they will depend on private citizens interest to prosper.

Taiwan has some exciting new developments on the horizon, including some innovative solutions by a pioneer group that should make a first step towards resolving planning issues in the country. The new president is receptive to these developments, however, all companies with property for sale in Taiwan should be aware of the delicate balance of demand and pricing, currently on such a knife-edge in this Asian country.
About the Author
Gregory Smyth is an independent author providing assessment and comments on leading International Property Consultants in Asia and Greater China , especially CB Richard Ellis.
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