The number of houses over 50 years old in Taipei City surged by 27,300 in a single quarter, an increase that was 10 times greater than the number of new homes added in the entire quarter.

In the second quarter, the number of housing tax registered residences in Taipei City was nearly 922,000, of which nearly 215,700 were old houses over 50 years old, a surge of nearly 27,300 in a single quarter. (Photo by reporter Xu Yiping)

[Reporter Xu Yiping/Taipei Report] The number of "half a hundred" old houses in Peking City surged by nearly 27,300 in one quarter. According to the latest release from the Ministry of Interior’s real estate information platform, the number of tax-registered residences in Taipei City in the second quarter was nearly 922,000, an increase of 2,330 quarter-to-quarter. However, a closer look at the age range of houses shows that old houses over 50 years old reached nearly 215,700, a surge of nearly 27,300 in a single quarter, which is 10 times more than the increase in the number of tax-registered residences in Taipei City in that quarter.

Real estate industry players point out that land is scarce in Taipei City, and they mainly rely on urban renewal, old-age reconstruction and other reconstruction methods to increase the supply of new housing. However, the speed will take longer to figure out than buying land directly through rezoning. Therefore, in addition to the fact that time is not forgiving, the same is true for housing.

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The average age of tax-registered houses nationwide in the second quarter was about 34.46 years, compared with the first quarter average of about 33.63 years, a quarterly increase of 0.83 years. Among the six cities, the average age of houses in Taipei was the oldest, about 39.62 years in the second quarter, close to 40 years, a quarterly increase of 0.86 years compared with the previous quarter.

In the second quarter, there were approximately 1,533,200 tax-registered houses nationwide that were over 50 years old. In Shuangbei City alone, there were 435,900 houses, accounting for about 28.43%. That is, more than a quarter of the "half a hundred" old houses in the country were concentrated in Shuangbei City.

A quarter of the "half a hundred" old houses in the country are concentrated in Shuangbei City

He Shichang, CEO of Xinchuan Real Estate Think Tank, said that the stock of old houses in China has continued to increase over time, and the rapid pace of reconstruction has increased the risk of residential safety. However, because Taiwan is a democratic society, house owners have the right to decide whether to participate in reconstruction. It is difficult for public power to intervene in the reconstruction and integration of old houses, and there are not many cases of demolition. If the law is not amended to allow carrots and sticks to be used together, it will still be difficult to significantly speed up the reconstruction of old houses.

Huang Shuwei, director of the real estate owner representative service department of Colliers International, said that the jump in the ratio of old houses in Shuangbei City is mainly due to the diminishing returns due to policy incentives for both urban and rural residents. Coupled with rising construction costs and the suppression of real estate speculation policies, builders have continued to accumulate inventory of old houses due to cost imbalances and sales pressure. Since the beginning of this year, regardless of the wait-and-see on the update of regulations, as well as the severe challenges of the policy environment and interest rate conditions, it is expected that even if the wave of new house completions will offset the ratio of old houses in the next three years, the absolute number of old houses will still remain high, and the demand for corresponding improvements in public security, housing security, and the super-elderly society will still be strong.

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