Housing prices in Taipei almost tripled in the past 20 years. That’s according to a research report released by Taipei-based Sinyi Realty Inc.
In the report, Sinyi Realty said that during the period of 1995-2014, home prices in Taipei increased by almost 200% to more than NT$200,000 (about US$6,500) per square meter. In neighboring New Taipei City, the most populous city in Taiwan, housing prices rose more than 154% during the 20 year period.
However, employees’ salaries in the capital city and other major cities in Taiwan have failed to rise with home prices, so the skyrocketing property prices have become a focus of complaints from people who cannot afford to buy a home.
An official with Sinyi Realty said that the government’s tax reform plan to curb short-term speculation is expected to stabilize the local property market.