Taiwan’s beautiful outer islands are seeing a real estate boom with increased tourism driving investment property demand.
Penghu’s famous stone double heart attracts many tourists every year, as does Green Island’s beautiful coastline and amazing reefs. The beauty of Taiwan’s outer islands has been attracting more tourists from both the main island and international origins, and along with them– real estate investors.
Providence University Tourism Department Associate Professor Huang Cheng-tsung (黃正聰) says that offshore island tourism, from the early Penghu, Kinmen, and Matsu, to the recently flourishing Xiaoliuqiu, has grown from 400,000 visitors annually to 1 million in the past five years.
The local fireworks and festivals are selling points that have boosted real estate sales in just Penghu alone by 11.6% in the past three years. In a decade, Kinmen real estate values have increased by 22.9%, Penghu by 47%, and Xiaoliuqiu by a staggering 153.9%.
HB Housing Research Office Public Relations Director Lai Chih-chang (賴志昶) explains that the housing market in outlying islands is limited by factors such as the scarcity of land and higher construction costs. Therefore, in recent years, the housing market has seen continuous growth.
However, experts remind the public that the volume and speed of properties on the outer islands are relatively lesser than the main island, and therefore investment in these locations is not as suitable for short-term speculation as it is for living in the property or running a B&B long-term.
With their natural beauty and modern conveniences so appealing, no wonder Taiwan’s outlying islands are making real estate waves.