The traditional peak season for home buying is approaching at the end of the year. In addition, there are two consecutive three-day holidays in October, namely National Day and Liberation Day. People’s willingness to view houses has increased, causing the housing market transaction volume in October to increase year-on-year. According to the real estate agency’s internal transaction data, it is the same as September. Compared to the same period, the transaction volume in Taiwan increased by 14% monthly. Among them, Taipei's volume increased by 13%, New Taipei increased by 11%, Taoyuan increased by 21%, Hsinchu County and City increased by 13%, Taichung increased by 12%, Tainan increased by 16%, and Kaohsiung also increased by 14%.
Chen Jinping, deputy manager of the Yongqing Housing Research and Exhibition Center, said that in September, the central bank raised the upper limit of second-home mortgage loans for natural persons from 60% to 70%, which eased the pressure on some home-exchangers to provide their own funds, and the policy effects were gradually reflected in the market in October. In addition, the National Day and Liberation Day holidays allow people to better plan their home viewing schedules, which has led to a rebound in transaction volume across Taiwan. In October, transaction volume increased by 14%, reflecting that the timing has entered the peak season of real estate transactions, and there is indeed a wave of return of owner-occupied demand in the market.
If compared with the same period in October last year, Chen Jinping pointed out that the transaction volume of Taiwan's real estate market increased by 18% annually, Taipei and New Taipei both increased by 16% annually, Taoyuan increased by 23% annually, Hsinchu County and Taichung both increased by 30%, Tainan increased by 28%, and Kaohsiung increased by 13%.
In terms of years, Taoyuan has the largest growth rate. Hui Feng, chairman of the Taoyuan Sales Agency Association, said that after the credit control, Taoyuan’s buying sentiment dropped sharply, but recently the number of people viewing houses has slowly come back, and several large-square-meter projects are also active. Because the base period is low, the growth rate is also obvious.
Looking forward to the market outlook, Chen Jinping said that the domestic economy and technological exports are still expected to support the demand for home purchases. Coupled with the relaxation of second-home loan ratios and the gradual convergence of price perceptions between buyers and sellers, it is estimated that the volume of existing home transactions in the fourth quarter is likely to be better than that in the first half of the year. However, selective credit controls have not yet been completely phased out. Mortgage interest rates are still at a high level and bank credit review remains prudent. The rebound in buying sentiment will still be limited. The housing market is expected to show a pattern of "volume moderate recovery and price consolidation". At this stage, there are plenty of properties for sale in the market. Home buyers can look and compare more based on their own needs and financial capabilities, and confirm the loan conditions in advance to have the opportunity to realize their dream of buying a home as soon as possible.
