Taiwan property prices tipped to boom

Country:  China

4 August 2009

Taiwan property prices are expected to appreciate by around 20-30% over the next couple of years because the local residential property market, which bottomed out in Q1 of this year, is now showing signs of recovery, according to an analyst with Union Bank of Switzerland (UBS).

The number of property transactions in Taiwan rose by 47% in Q2 compared with Q1, while the average price of a second-hand property in Taiwan increased by 10% quarter-on-quarter, said Chung Chao-an, a UBS analyst.

Chung projects that unemployment levels will peak in Q4 of this year or Q1 of next year, generating fresh room for economic and property price growth over the next two or three years.

See Also:   Marc Da-Silva, Overseas property investor news, Taiwan, Taiwan property prices tipped to boom, Union Bank of Switzerland