The pre-sale housing market in Taiwan thrived in 2024, especially in the first half of the year, as numerous projects rapidly sold out despite a general slowdown in the latter half due to stricter bank loan policies. This remarkable achievement highlights the vibrant real estate activity within the island, according to a report by the Yungching Realty Group.
Particularly noteworthy was the success of the "Mengxueyuan" project in Sanmin District, Kaohsiung City, which dominated the charts with a staggering 906 transactions, making it the top-ranked pre-sale project in Taiwan for the year. Chen Jinping, Vice Manager of Yungching Realty Research Center, elaborated, "Sanmin District is a traditional hot area for housing in Kaohsiung, boasting strong transport links and complete local amenities." The project's attractive low down payment plan attracted many buyers, leading to its swift sellout within a week.
The "Paris Left Bank" in the Qianjin District also made its mark, concluding the year with 662 transactions, placing third overall in Taiwan. This development is part of the expansion of the Ai River Waterfront area, adjacent to the high-tech sectors such as the Kaohsiung Software Park and Multi-Functional Trade Zone. Such prime positioning is expected to draw numerous professionals and tech talents into the area, fueling interest and, consequently, sales transactions.
Meanwhile, surprising entrants to the top ten were the "Ai World City" in Puzi City, Chiayi County, which secured the second overall position with 795 transactions, and the "Meili Shangcheng" in Nuannuan District, Keelung City at ninth with 561 transactions. Chen noted, "Ai World City is one of the few large-scale communities in Chiayi County and is expected to attract a significant workforce with future tech developments," particularly in light of the anticipated completion of TSMC's advanced packaging facility nearby, which will likely spur local employment and commerce.
The "Meili Shangcheng" project stands out with its strategic location near National Highway No. 1 and the Tai62 interchange, which allows quick access to urban centers. With an average price of 471,000 NTD, the project's pricing is touted as more consumer-friendly compared to inflated costs found in nearby metropolitan areas. This affordability has drawn both local buyers and those from the growing tech workforce in the surrounding districts. Chen explains, "Meili Shangcheng provides affordable pricing compared to Taipei, attracting buyers from the tech parks and local move-up buyers as well." Such observations illustrate the changing dynamics in buyer preferences, indicating a potential migration towards areas previously regarded as less desirable.
Data from Yungching Realty indicates that 2024's pre-sale market was not merely about individual project launches, but also reflected larger trends in demographic shifts and new consumer preferences. As urban areas become increasingly dense, residential projects in less saturated markets have started to gain traction.
This shift may signal a growing acceptance among homebuyers of properties located outside the major city centers of Taipei, New Taipei, Taichung, Kaohsiung, Taoyuan, Tainan, and Miaoli, known collectively as the seven metropolitan areas. With the expansion of infrastructure and commercial opportunities, projects like Ai World City and Meili Shangcheng are well-positioned to capitalize on these evolving patterns.
As we conclude our examination of the 2024 pre-sale housing market in Taiwan, it becomes clear that the future points towards an increasingly competitive landscape. The data reflects how adaptable real estate developers have become, not just in urban locations, but also in emerging districts that were once overlooked. This trend may pave the way for a transformation in where and how people choose to live, thus reshaping the demographic fabric of Taiwan's residential landscape in the years to come.
