The average price per square meter of pre-sale houses in Tainan East District is 574,000 yuan, while that of existing buildings is only 252,000 yuan. The total price difference is 9.66 million yuan when converted to 30 square meters. (Photo by reporter Zhang Yayun)
When buying a 30 square meter house, the pre-sale house is actually 9.66 million yuan more expensive than the existing building! According to real estate agency statistics, the average price of pre-sold houses in Tainan’s East District is NT$574,000 per ping, while that of existing houses is only NT$252,000. The price difference reaches 127.7%, making it the administrative district with the largest price difference between the two southern metropolitan areas. Kaohsiung’s Xinxing District is not far behind. Pre-sold houses are 118.9% more expensive than existing houses. The total price difference is NT$8.7 million when converted to 30 ping.
Yongqing Real Estate Group compiled statistics from the Ministry of Interior’s real-price registration data. Tainan East District and Kaohsiung Xinxing District are the administrative districts with the largest price differences between pre-sale houses and existing housing buildings in the southern metropolis. The average price of pre-sale houses in District 2 all starts with the prefix 5, but the average price of existing housing buildings still starts with the prefix 2, forming an obvious price gap.
Taking Tainan East District as an example, the average price per square meter of pre-sale houses is 574,000 yuan and that of existing buildings is 252,000 yuan, a difference of 322,000 yuan per square meter. Converted to a 30-square-meter house, the total price of a pre-sale house is about 17.22 million yuan, and that of an existing house is only 7.56 million yuan. The difference between the two is 9.66 million yuan. The price difference alone is enough to buy another existing house of the same square meter.
Chen Jinping, deputy manager of the Yongqing Housing Research and Exhibition Center, analyzed that Tainan East District is a traditional cultural and educational town with star school districts and mature business districts. However, the land available for development in the area is close to saturation. Most of the existing houses are old buildings with a long history and lack of public facilities planning, and the housing prices are relatively affordable.
On the other hand, in recent years, new building projects have been launched one after another in flat rezoning areas, and with the arrival of large shopping malls, the price of new projects has continued to increase. Many large-scale projects have increased the average price of pre-sold houses, making the price gap between new and old houses wider.
Buying sentiment in the housing market cools down, but pre-sale house prices still struggle to fall
A similar situation occurs in Kaohsiung's emerging district. The average price of pre-sale houses per square meter is 534,000 yuan, while that of existing buildings is only 244,000 yuan. The price difference per square meter is 290,000 yuan, a range of 118.9%. Similarly converted into a 30-square-meter house, the total price difference amounts to 8.7 million yuan.
Chen Jinping pointed out that after the seventh wave of credit controls came into effect, the real estate market has cooled down, and builders have faced financial pressure and have become more conservative in their proposals, tending to choose locations with mature living functions and support for self-occupation demand. In addition, the cost of land purchase and construction is high, making it easy for pre-sale housing prices to rise but not fall. In comparison, the original housing price base period was low, and the tightening of mortgage loans also made some homeowners more willing to make profit, and the prices were relatively stable, further widening the price gap between new and old houses.
