LITTLE APPETITE:
Weak demand and rising unsold inventory has caused developers to step back from large-scale projects with amplified risk, an expert said
By Crystal Hsu / Staff reporter
Taiwan’s cooling housing market is diverging sharply from the buoyant stock market, as tighter mortgage restrictions and government measures aimed at curbing speculation weigh on buyer confidence and prompt developers to scale back new projects in the greater Taipei area, My Housing Monthly (住展雜誌) said yesterday.New residential project launches in Taipei and New Taipei City totaled NT$108.1 billion (US$3.43 billion) in the first four months of this year, down 53.7 percent from a year earlier, a survey by the publication showed.The number of new projects unveiled fell to 40 from 90 a year earlier, with both cities seeing supply and projected sales values about halved.
Residential and commercial buildings are pictured in Taipei on Tuesday.
