TAIPEI (Taiwan News) — Yung Ching Rehouse Co. said Tuesday that homes more than 30 years old accounted for 54.7% of residential property transactions in Taipei last year.
According to Taipei’s Land Department, the city recorded 29,930 property transactions in 2024, an 11.95% increase compared to 2023. Chen Chin-ping (陳金萍), deputy manager at Yung Ching Rehouse Co.’s research center, said that Daan District had the highest proportion of older home transactions at 70.6%, followed by Shilin District at 65.5% and Songshan District at 63.2%, per CNA.
Chen said that many of the city’s older homes are located in prime locations. She noted that these areas have consistent housing demand, leading banks to typically offer favorable mortgage terms, which makes them appealing to homebuyers and investors.
Shining Building Business Co. said that Taipei’s Beitou District experienced the highest growth in property transactions among the city’s administrative areas, with a year-on-year 17.6% increase. The company attributed the rise mainly to Beitou Shilin Technology Park, which has attracted numerous high-tech professionals to settle in the area.
Additionally, housing prices near the Mingde and Shipai MRT stations on the Tamsui Line have surged, with new property prices reaching up to NT$1.4 million (US$43,400) per ping.
Chang Hsu-lan (張旭嵐), director of the trend center at Taiwan Realty Estate Co., said the average age of homes sold in Taoyuan during last year's fourth quarter was 21.7 years. While the region had the youngest transaction age among Taiwan’s six major cities, this figure represents a 2.5-year increase compared to the same period in 2023.
In the fourth quarter of last year, homes over 30 years old accounted for 34.5% of transactions in Taoyuan, Chang said. Zhongli District recorded the highest number of such deals, with 348 transactions, and unit prices ranging from NT$250,000 to NT$300,000 per ping.
Last year, the number of property transactions in Taiwan exceeded 350,000 units, marking a 14.19% increase compared to 2023. The surge was mainly driven by a 27.2% spike in transactions during the first half of the year, fueled by the launch of the government’s preferential home loan program for young buyers.
Taiwan Institute of Economic Research added that rising construction costs, increased bank mortgage rates, and the Central Bank's credit controls are expected to limit housing transaction growth this year.
