Last year, as people were predicting the end of the world, and prices started sliding in Taiwan real estate, I got into a discussion with another blogger in Taiwan about the bubble state of the local property market … it’s a pity because I hadn’t found this website: Taiwan Property Market News & Figures.
If you are interested in the property market, you will find that the prices in Taiwan are relatively cheaper than almost any other developed area in this part of the Far East. It’s astonishing. It’s also astonishing that apartment quality is even now still lacking by comparison with counterparts in HongKong and Singapore.
Oh, and by the way, it’s totally 100% legal for foreigners to purchase land in Taiwan, esp. for business or residences. There are land restrictions on other types of land, though. So don’t let any ill-informed person (aka Taiwan Realtors) tell you otherwise.
I’d suggest that you wager with them: offer to get a legal opinion written in Chinese by a local lawyer stating the situation. The loser pays for the legal cost of getting the letter. See if they bite.
Do pay attention to the facts and figures on the left and right of the main page. It’s easy to overlook, but you would regret that. There’s tons of great numbers in there. Of course, any number quoted here or anywhere is only a guideline. Only familiarity with the local (and I mean superlocal) market will enable you to figure out where the values lie.
Of course, you’ll still find stories like this:
Taiwan’s cabbage-patch kings hold the keys to growth under the region’s tallest buildingA woman plants vegetables in a business district in Taipei, Taiwan(Maurice Tsai/Bloomberg/Getty Images)The consensus opinion holds that a plot of land measuring 50m by 25m in the heart of Taipei’s financial district will be worth about $150 million
- Taiwan’s cabbage-patch kings hold the keys to growth under the region’s tallest building – Times Online
This story is well worth reading. I know the patch of quite well, and it’s one of several you can see dotted around the capital city. I had NO idea the land was worth this much, though. But the farmers may well understand the value, the trouble is – they love their job, it’s been part of their life for decades, so it may be hard for them to visualize another way of life, even with all the money that the land is worth. Recommend reading the story.