Taipei Real Estate Market 2025 Outlook: Trends, Forecasts, and Key Insights

Overview of the 2025 Market Conditions

Taipei’s real estate market in 2025 is experiencing a noticeable cool-down after several years of heated growth. Transaction volumes have fallen sharply, and price momentum has stalled amid tighter credit conditions and economic uncertainties taipeitimes.com taipeitimes.com. In the first quarter of 2025, only about 63,000 property transfers were registered nationwide – a 20% drop year-on-year and the weakest volume in eight years taipeitimes.com. Across Taiwan’s six largest cities (including Taipei), housing transactions plummeted over 20% year-on-year by mid-2025 taipeitimes.com. This slowdown follows a period of surging activity in 2024; for example, home sales in the first half of 2024 had soared by 27% year-on-year amid economic recovery taipeitimes.com. However, sentiment shifted in late 2024 as global economic headwinds and new lending restrictions dampened buyer confidence.

Several factors are contributing to Taipei’s 2025 housing slump. The Central Bank’s implementation of selective mortgage credit controls (starting September 2024) has raised borrowing costs and reduced leverage for buyers taiwanhousing.tw taiwanhousing.tw. Banks now require larger down payments (loan-to-value ratios were cut roughly 10 percentage points for second homes) and have eliminated interest-only grace periods, making financing more stringent taiwanhousing.tw taiwanhousing.tw. Would-be buyers are also exercising caution: nearly 80% of surveyed house hunters prefer to “wait on the sidelines” until at least 2026 given the uncertain economy and tighter credit taipeitimes.com taipeitimes.com. Taiwan’s GDP is still growing (around 3% forecast for 2025) and interest rates remain relatively flat cbreemail.com, but high borrowing costs (mortgage rates ~2.5%+ even at state banks taipeitimes.com) and global trade tensions are undermining real estate sentiment.

Critically, housing prices in Taipei have begun a modest correction. This is not a crash, but the frothy appreciation of 2020–2024 has leveled off. In Q4 2024, average housing prices nationwide fell 6.6% from the previous quarter, and all six major cities saw price declines taiwannews.com.tw taiwannews.com.tw. Taipei City’s prices dipped about 3% in Q4 (vs Q1 2024), a relatively mild drop compared to steeper corrections in southern cities like Kaohsiung (-10%) taiwannews.com.tw taiwannews.com.tw. By Q1 2025, Taipei’s average home price stood at roughly NT$1.233 million per ping (~US$38,000 for 3.3m²) – the highest in Taiwan taiwannews.com.tw taiwannews.com.tw, but growth has flattened. More sellers are cutting asking prices to close deals, with discounts of 10–12% off list price now common in Taipei – the widest gap since the pandemic era taipeitimes.com taipeitimes.com. In short, 2025’s market is characterized by weakening demand, rising inventory, and gentle price softening, especially in segments and regions that saw the biggest run-up.

Residential Real Estate Trends in 2025

The residential property sector in Taipei has shifted from a seller’s market to a more balanced or even buyer-favorable market in 2025. Homebuyers have more negotiating power than in previous years. According to Evertrust, the average bargaining range (difference between asking and closing prices) widened to around 10–12% in early 2025, whereas at the peak of the market in mid-2024 it was in the single digits taipeitimes.com taipeitimes.com. Taipei sellers led with the deepest discounts (about 12.8% off asking on average), followed by New Taipei (11.5%) and Tainan (11.1%) taipeitimes.com taipeitimes.com. This indicates that would-be buyers are successfully pushing for price concessions, a trend driven by the tighter credit environment and more abundant supply.

Housing supply has indeed increased. A record 100,000 new housing units are slated for completion across Taiwan in 2025, raising concerns of oversupply in certain regions taipeitimes.com. While Taipei City itself has limited land for large new developments, the greater Taipei metro (including New Taipei) has seen numerous projects in recent years. Notably, housing starts (new constructions) in 2024 dropped to a five-year low nationwide as developers grew cautious taiwannews.com.tw taiwannews.com.tw. In some areas with high inventories – for example, New Taipei’s redevelopment zones – builders actually delayed or scaled back projects in late 2024 after the credit tightening taiwannews.com.tw taiwannews.com.tw. This pullback in construction could eventually moderate supply growth. But in the near term, Taipei’s housing stock is plentiful thanks to the previous building boom, and unsold inventory remains elevated (many developers still hold numerous unsold pre-sale units) taiwannews.com.tw. As a result, buyers have more choices and less urgency, further cooling price pressure.

Home price trends vary by segment. In the pre-sale (new build) market, prices remain relatively high – buoyed by developers’ earlier optimism – but sales rates have slowed. In Q2 2024, the average pre-sale price nationwide hit NT$530,300 per ping (≈NT$16 million for a 30 ping apartment), up 6.7% from the prior quarter taipeitimes.com taipeitimes.com. However, by Q4 2024, signs of price correction emerged even in new projects. The median national house price fell to about NT$338,600 per ping in Q4 taiwannews.com.tw taiwannews.com.tw, and price cuts of ~6% became common to move inventory taiwannews.com.tw taiwannews.com.tw. Taipei’s prime projects still command a premium (often NT$1 million+ per ping), but sellers are now more flexible under pressure. As one analyst noted, unlike the boom years when owners held firm, many sellers in 2025 are willing to negotiate or lower asking prices to offload units taiwannews.com.tw taiwannews.com.tw. This is especially true for investors holding multiple properties, who face higher carrying costs due to new taxes and lending rules (detailed in a later section).

Buyer demographics in Taipei’s residential market are also shifting. The government’s policies favoring first-time owner-occupiers are having an effect: the share of first-time buyers rose from ~57% in early 2023 to 61.4% by end-2024, indicating more genuine end-users in the market taiwanhousing.tw taiwanhousing.tw. Young families and singles are cautiously re-entering, helped by special mortgages (e.g. the New Youth Housing program) and by investors retreating. In fact, single-person and small-family households now dominate Taipei – nearly half of all Taiwanese households are one or two people taipeitimes.com. Taipei, New Taipei, and Kaohsiung have a particularly high number of single occupancies taipeitimes.com. This demographic trend means strong demand for smaller units and “one home per person” housing, aligning with the government’s goal of “one owner, one home” taipeitimes.com. Correspondingly, luxury speculative demand has pulled back. Even areas that saw frenzy due to tech industry news – for example, regions near new TSMC semiconductor fabs – have cooled. A survey in early 2025 showed mixed expectations for house prices near TSMC’s planned facilities, with just over half of respondents still expecting price gains and the rest predicting stability or declines taipeitimes.com. This ambivalence reflects awareness that tech-driven booms can reverse if projects stall or if speculation runs too far ahead of fundamentals.

On the rental side, Taipei’s residential rents have remained relatively stable and low-yield relative to prices. Rental yields in Taipei average only around 2% annually, which is among the lowest in Asia investasian.com investasian.com. This means buying to let is not very profitable, and many investors counted on capital appreciation instead. With price growth flattening, some would-be landlords are rethinking their strategy, and more homes may return to the for-sale market. The affordability crisis remains severe: home price-to-income ratios in Taiwan hover around 15–20, and in Taipei it can take roughly 40 years of average income to afford a modest apartment investasian.com investasian.com. This has led to public outcry over housing justice, population outflow from Taipei (over 20,000 net residents left Taipei City in Q1 2025, often seeking cheaper homes in suburbs) taiwannews.com.tw taiwannews.com.tw, and continuous government efforts to tame prices.

In summary, Taipei’s 2025 residential market is in a cooldown phase: sales volumes are down, price growth is turning to mild decline, and leverage-fueled speculation is ebbing. End-users are slowly regaining the upper hand, and the market is healthier in the sense that froth is being squeezed out. But affordability challenges persist, and a true buyers’ market will depend on further price adjustments or income growth.

Commercial Real Estate Trends (Office, Retail, and Industrial)

Commercial real estate in Taipei shows a mixed picture in 2025, with the office sector facing headwinds while some industrial/logistics segments remain robust. According to CBRE’s outlook, office vacancy rates are rising and expected to reach a seven-year high in 2025 cbreemail.com. New supply is coming online – including several premium office towers in the Xinyi and Nangang districts – outpacing current tenant demand. This surge in supply is turning Taipei’s office market into a tenant-favorable environment, a stark change after years of low vacancy. Landlords in older or non-prime buildings are likely to face increased competition and may need to offer incentives or lower rents to attract tenants. Indeed, many firms are pursuing “flight-to-quality” relocations cbreemail.com, upgrading to newer buildings with better amenities and leaving behind older offices. As a result, landlords’ bargaining power is eroding in the office segment, and rent growth is expected to be subdued in 2025.

Meanwhile, the retail property sector in Taipei is cautiously improving but not without challenges. Consumer confidence has been somewhat shaky due to stock market volatility and global economic uncertainty cbreemail.com. Thus, retailers are expanding carefully, focusing on proven locations and formats. The luxury retail segment (especially around Taipei 101/Xinyi and Zhongshan areas) has seen a rebound as tourism resumes in Asia, but neighborhood retail and shopping centers are still recovering from pandemic-era shifts to e-commerce. E-commerce growth continues to drive demand for modern logistics and warehousing space cbreemail.com. Taipei’s industrial real estate, particularly warehouses and last-mile distribution centers, remains a bright spot. Companies are investing in supply chain infrastructure; large e-commerce and 3PL (third-party logistics) firms seek high-quality logistics facilities around New Taipei and Taoyuan where land is available cbreemail.com. This has kept industrial vacancy low and rents relatively firm.

It’s worth noting that Taipei’s commercial real estate is also influenced by broader economic shifts. The city is not a regional financial hub on the scale of Hong Kong or Singapore, but it is a headquarters city for tech manufacturers and service companies. As some tech production expands outside Taiwan, and with more people embracing remote or hybrid work, office space absorption has slowed. CBRE reports that these trends, combined with new completions, will make 2025 challenging for office landlords cbreemail.com. Conversely, any economic uptick or stabilization in trade policy (e.g. resolution of U.S.–China trade frictions) could improve business confidence and thus demand for office and retail space. For now, companies remain cost-conscious: we see firms consolidating offices or opting for smaller footprints in flexible/co-working spaces rather than large conventional leases.

In summary, commercial property in Taipei 2025 can be characterized as an evolving landscape:

• Office: Rising vacancy and more tenant leverage as supply peaks cbreemail.com. Rent growth is flat and older buildings, especially non-prime, face pressure.
• Retail: Slow expansion; prime retail holds value, but overall retail demand is tempered by cautious consumer spending cbreemail.com.
• Industrial/Logistics: Strong demand for warehouses and logistics centers thanks to e-commerce and supply chain investments cbreemail.com. This sub-sector is an outperformer, with stable or rising rents and low vacancy in modern facilities.

Investors in Taipei’s commercial market are thus shifting focus: some local institutional investors (e.g. insurers) are still allocating funds to real estate in 2025, but overall real estate investment volumes are expected to decline in 2025 given the cooling market cbreemail.com. Those who are investing show preference for industrial and niche sectors, or prime core assets, rather than speculative office projects. The office and retail sectors may need to wait for a clearer economic “soft landing” before seeing renewed growth.

Forecasts and Projections for the Coming Years

Looking ahead, most analysts predict that Taipei’s property market will have a soft landing rather than a dramatic crash, but it will remain sluggish in the near term. Evertrust, Taiwan’s largest brokerage, forecasts that total property transactions nationwide will likely fall below 280,000 units in 2025, down from over 300,000 in 2024, as the market continues to cool taipeitimes.com taipeitimes.com. Modest price declines are expected to continue through 2025 – on the order of a few percentage points – unless a major shock occurs. “We’re not seeing a market crash, but there’s also no momentum for a rebound,” Evertrust’s general manager explained in June taipeitimes.com taipeitimes.com. In other words, the baseline expectation is for shrinking sales volume and moderate price correction going forward taipeitimes.com.

Key factors informing these projections include:

• Continued tight credit: The Central Bank has signaled it will maintain selective mortgage restrictions until prices stabilize. As of early 2025, loan-to-value ratios for second homes are around 60% (even lower for luxury properties), and banks are enforcing rigorous income vetting taiwanhousing.tw taiwanhousing.tw. With financing “no longer friction-free”, speculative demand should remain muted taipeitimes.com taipeitimes.com. Interest rates are expected to stay flat or only gently rise, which provides some stability cbreemail.com, but there is little expectation of rate cuts that would stimulate new borrowing. In short, credit conditions will likely keep the market in check through 2025.
• Supply overhang and construction pipeline: The wave of completions in 2025 adds supply in both residential and commercial segments. High new supply – e.g. 100k new homes nationwide in 2025 – will take time to be absorbed taipeitimes.com. However, leading indicators suggest a slowdown in future supply: housing starts dropped in 2024, meaning fewer new projects will hit the market in 2026–2027 taiwannews.com.tw taiwannews.com.tw. Many developers postponed projects after September’s credit tightening, especially in oversupplied areas taiwannews.com.tw taiwannews.com.tw. This could actually help balance the market in the medium term. For 2025-26, though, buyers will benefit from ample choices and developers clearing inventory, keeping price growth subdued.
• Government policy stance: Policymakers in Taiwan have shown resolve in pursuing “housing justice” measures to curb speculation and improve affordability. Tax reforms (discussed below) and credit controls are part of this. It’s anticipated that the government will not loosen these measures in the next couple of years unless the economy weakens severely. In fact, further tightening steps are possible if prices tick back up too quickly taipeitimes.com. This vigilant policy approach suggests that any market rebound will be deliberately restrained. A “red-hot” resurgence like early 2024 is unlikely under the new regulatory regime.
• Economic and external factors: Taiwan’s economy is forecast to grow modestly (~2–3% per year) in the near term cbreemail.com, which supports housing demand but not at a runaway pace. Export-dependent industries face uncertainty from U.S.–China trade tensions and slower global growth. Additionally, rising cross-strait geopolitical risks add a layer of caution for investors taiwannews.com.tw. Barring a major positive shock (such as a tech boom or a sudden surge of foreign capital), the demand side for real estate will likely remain cautious through 2025. On the positive side, low unemployment and wage growth in tech sectors provide underlying support for housing fundamentals in Greater Taipei, preventing any severe collapse in demand taiwannews.com.tw.

Overall, the consensus outlook for Taipei’s real estate over the next few years is one of a gentle correction and plateau. Prices are expected to drift slightly downward or flatline, rather than escalate. Volume of transactions may remain below recent averages as buyers and sellers adjust expectations. Analysts describe it as a “sluggish” or “stagnant” phase taiwannews.com.tw – essentially a necessary cooling-off after a period of exuberance.

For potential homebuyers, this forecast means better opportunities ahead: more room to negotiate and possibly slight price bargains, especially in areas or property types that had overshot in price. As a Chinatrust Real Estate manager noted, current conditions are “better for homebuyers with genuine needs” because sellers are more flexible now taiwannews.com.tw. For investors, near-term capital gains prospects appear limited; rental yields are unlikely to improve markedly, so holding costs versus returns must be carefully weighed.

Looking beyond 2025, once the market finishes its correction and if Taiwan’s economy remains stable, the long-term trajectory for Taipei property is cautiously optimistic but not explosive. Taipei is the political and economic capital, and land supply is constrained, so housing will continue to be in demand. Demographic shifts (aging population, smaller households) could cap demand growth, but urban renewal and tech industry development (e.g. AI, semiconductor hubs) could provide new drivers. Importantly, if inflation and interest rates ease in coming years, some pent-up demand may re-enter the market. Local experts predict a “soft landing” in 2025 with a possible gentle recovery thereafter cbreemail.com – though any future rally will likely be far more moderate than the double-digit annual gains seen in 2021–2022.

Impacts of Government Policies, Taxes, and Regulations

Taiwan’s government has been proactive in implementing policies to cool the housing market and promote affordability, and these measures are significantly shaping Taipei’s real estate dynamics in 2025. Key policy tools include tax reforms, credit controls, and regulatory restrictions:

• Selective Credit Controls: Taiwan’s Central Bank has introduced multiple rounds of mortgage tightening (by late 2024, it was the seventh round of such controls taiwannews.com.tw). In September 2024, new rules cut allowable loan-to-value (LTV) ratios for second-home mortgages by 10%, and even more for third homes and luxury properties taiwanhousing.tw. For instance, a buyer who could previously borrow 80% for a second property might now get only 60–70%. Additionally, interest-only grace periods on mortgages were eliminated – all borrowers must start repaying principal immediately taiwanhousing.tw taiwanhousing.tw. These rules, initially targeting the big six cities, were expanded nationwide to prevent speculative flows to smaller cities taiwanhousing.tw taiwanhousing.tw. The impact has been profound: banks now demand higher down payments (often 30–40% from even local buyers, and 50%+ down payment for many foreign buyers in practice) taiwanhousing.tw taiwanhousing.tw. Stricter income and background checks are in place to weed out fake “first-time buyers” who are actually proxies for investors taipeitimes.com. Overall, getting a mortgage in Taipei is much tougher now than a couple of years ago – a deliberate move to curb leverage and cool speculation.
• “House Hoarding Tax 2.0” and Property Tax Reforms: In mid-2024, Taiwan passed significant housing tax reforms aimed at penalizing multiple-home ownership and encouraging owner-occupancy. Often dubbed the House Hoarding Tax 2.0, the new system raised the annual property tax rates on non-owner-occupied homes to 2%–4.8% (from the previous 1.5%–3.6%), while cutting the rate for owner-occupied primary residences to 1% (from 1.2%) taiwannews.com.tw taiwannews.com.tw. This took effect in July 2024 with taxes payable from 2025. Importantly, the law changed how authorities count homeownership: instead of per-city, it’s now a nationwide registry, preventing investors from claiming multiple “primary homes” in different cities to dodge higher taxes taiwannews.com.tw taiwannews.com.tw. For Taipei homeowners, this means if you own two or more houses anywhere in Taiwan that aren’t rented for social purposes or your residence, you’ll face a much steeper tax bill. On the flip side, genuine owner-occupiers (including foreign residents with local residency permits) benefit: foreign permanent residents in Taiwan who live in their home are now eligible for the same low 1% self-use house tax rate taiwannews.com.tw taiwannews.com.tw. Roughly 16,000 foreigners are expected to benefit from these preferential rates starting 2025, as long as they register their residence and it’s not rented out taipeitimes.com taipeitimes.com. This policy underscores the government’s “housing for use, not speculation” stance. Early signs show it’s working: the one-home tax break and higher holding costs on extra homes have nudged more owners to sell secondary units and boosted the share of first-home buyers taiwanhousing.tw taiwanhousing.tw.
• Capital Gains and Speculation Tax: Even earlier, in July 2021, Taiwan introduced tougher taxes on short-term property transactions to discourage flipping english.ey.gov.tw. Under these rules often called the consolidated housing and land income tax 2.0, properties sold within 2 years of purchase incur up to 45% tax on the gains (and 35% if sold within 2–5 years). This has significantly increased the cost of quick flips. By 2024, evidence of speculation (e.g. quick resales of pre-sale contracts) had subsided somewhat, as holding a property for only a few months is no longer lucrative due to punitive taxes english.ey.gov.tw. The government also cracked down on developers who hoard unsold new units – for example, there are higher taxes on unsold new housing inventory to prod developers to release units to the market taiwannews.com.tw. Taipei, being a prime market, saw many such policy targets and has arguably benefited: transaction data suggest fewer ultra-short-term deals and more listings of previously hoarded units, easing upward price pressure.
• Housing Regulations and Social Housing: Beyond taxes, the Taipei city government and national government have taken regulatory steps such as tightening rules on pre-sale purchase and assignment. Pre-sale homes now have stricter transparency requirements and limits to prevent buyers from selling the contract before completion (a common speculative practice). Additionally, social housing programs have been expanded – Taipei City has been building thousands of affordable rental units for lower-income and younger residents. While not directly affecting private market prices much yet, the presence of public housing aims to provide an alternative and put moral pressure on landlords of subpar units. The central government’s ongoing “Healthy Real Estate Market Plan” includes measures like closer scrutiny of farmhouse land transactions (to prevent loopholes) and preventing excessive credit to real estate at the expense of other sectors mof.gov.tw.

The combined impact of these policies in 2025 is a market with far less speculative fever. Investors now face higher carrying costs (annual taxes) and lower leverage, making it less attractive to hold empty apartments in Taipei waiting for price gains. Many multiple-home owners are offloading units or refraining from new purchases, which increases supply for end-users. Meanwhile, genuine buyers benefit from slightly lower prices and tax breaks on their primary home. On the regulatory side, the playing field is a bit fairer: foreign buyers, for example, are treated more equally for tax if they actually reside in their Taipei home taiwannews.com.tw taiwannews.com.tw, though they still face bank hurdles (banks prefer locals or at least foreigners with local income for mortgages taiwanhousing.tw taiwanhousing.tw).

It’s important to note that these policy measures are not without side effects. They have contributed to the current drop in sales and sentiment – essentially pricking what some viewed as a housing “bubble.” The Central Bank has warned of Taiwan’s housing market being over-leveraged and aims to avoid a hard landing like in China taiwannews.com.tw. So far, a gradual deflation of the bubble seems to be happening: Q4 2024’s 6.6% price drop was a direct result of the September credit curbs and stricter financial inspections that “hit the market hard” taiwannews.com.tw taiwannews.com.tw. Policymakers seem willing to tolerate a short-term slowdown in order to achieve long-term stability and housing affordability improvements. Buyers and sellers in Taipei have adapted to this new normal of heavy government involvement. Anyone looking to invest or purchase must be aware of these rules – ignoring them can be costly (e.g. a foreign buyer might be surprised by needing 50% down and immediate full repayments, or an investor might mis-price their returns with the new taxes).

In summary, government policies in 2025 are fundamentally reshaping Taipei’s real estate: tamping down speculation, nudging the market toward end-user driven activity, and slowly steering prices toward more sustainable levels. These measures are a key reason the market outlook is stable-to-slow rather than boom-or-bust.

Investment Opportunities and Risks

From an investment perspective, Taipei real estate in 2025 presents a mix of cautionary tales and selective opportunities. The market’s recent performance suggests that investors must be very strategic and long-term oriented, as quick profits are no longer easy. Here we break down opportunities and risks:

Key Opportunities:

• Buyer’s Market Conditions: The current slump offers well-capitalized buyers a chance to enter Taipei’s housing market on better terms than a few years ago. With prices correcting slightly and sellers more open to negotiation, investors (especially those looking for a primary residence or long-term hold) can negotiate favorable deals in 2025 taipeitimes.com taiwannews.com.tw. For example, a luxury condo in Xinyi that might have had zero discounts in 2022 could potentially be acquired at 10% below asking now. End-users planning to live in the property stand to benefit the most, as they can take advantage of lower tax rates for owner-occupiers and lock in historically low interest rates before any future rises.
• Prime Locations Hold Value: Even during the correction, Taipei’s prime districts (Daan, Xinyi, etc.) have retained value better than others taiwannews.com.tw. These central areas, with their limited supply and strong amenities, are more “resilient” – they dipped only ~2–3% in late 2024 vs. much larger drops in fringe cities taiwannews.com.tw taiwannews.com.tw. Investors with a long horizon may find central Taipei properties a relatively safe asset in Taiwan, offering capital preservation and prestige. Should the market rebound in a few years, prime areas typically lead the recovery. In addition, high-end segments in Taipei are somewhat insulated by wealth (many owners are high-net-worth individuals who are less pressured to sell).
• Emerging Districts and Redevelopments: Taipei continues to undergo urban renewal. Districts such as Nangang (with the growing tech office cluster and new MRT lines) or parts of New Taipei like Banqiao and Xinzhuang (with new infrastructure and rezoning projects) offer growth potential. Prices there are lower than downtown Taipei but could appreciate as these areas develop into secondary commercial hubs. For instance, Taoyuan’s Qingpu area (slightly outside Taipei) has drawn many young buyers due to new transport links taiwannews.com.tw – an example of how connectivity can drive real estate value. Investors looking beyond Taipei City might consider these peri-urban hotspots which benefit from spillover demand and government development plans.
• Logistics and Industrial Real Estate: As mentioned, the logistics sector is thriving. Investors (particularly institutional players or REITs) could explore warehouse acquisitions or development on Taipei’s outskirts. Modern logistic facilities enjoy strong demand from e-commerce, and yields there are higher than residential yields. Taiwan’s position in high-tech manufacturing and the need for inventory storage also underpin this segment. Similarly, science park real estate around Hsinchu or Taichung, though outside Taipei, can be an opportunity – serving the semiconductor supply chain (however, one must be wary of volatility tied to tech cycles).
• Foreign Buyer Niche: Taiwan is one of the few places in the Chinese-speaking world where foreigners can own freehold property investasian.com, and Taipei is a very livable city. While foreigners face the same market risks as locals (and strict reciprocity and residency rules), those planning to live in Taiwan might find Taipei real estate attractive for lifestyle reasons. With the new tax law treating foreign residents like locals for primary homes taiwannews.com.tw taiwannews.com.tw, a foreign professional living in Taipei could buy a home and enjoy low holding taxes (1% annually) – a relative bargain compared to many global cities. This is more of a lifestyle opportunity than a pure investment play, but over long periods, owning in Taipei can hedge against rent inflation and currency changes.

Key Risks:

• Overvaluation and Low Yields: By many metrics, Taipei’s property is overpriced relative to fundamentals. Rental yields around 2% mean that after property taxes, maintenance, and inflation, an investor’s net return from renting out a Taipei apartment is often near zero investasian.com investasian.com. This is a glaring risk: one is essentially betting solely on capital appreciation. If prices stagnate or fall, the investment could underperform basic savings or other assets. With an average 30 ping ( ~100 m²) apartment costing US$600k–$700k in Taipei investasian.com investasian.com, the cost-to-income ratio is extreme – local salaries (~US$1,500/month median) simply do not support such prices investasian.com investasian.com. There is a real risk of a longer-term price correction or at least years of price stagnation as incomes catch up. International comparisons are telling: Taipei is nearly as expensive as Singapore per square meter, without the same global financial center status or land scarcity investasian.com investasian.com. This suggests limited upside in the near future.
• Policy and Regulatory Risk: The government’s heavy hand means policy can change investment math overnight. For example, a new “anti-hoarding” tax or further credit tightening could be implemented if prices don’t moderate enough. Foreign investors face the risk of changing reciprocity treaties or additional barriers if, say, geopolitical relations sour. Even now, foreigners must ensure their home country allows Taiwanese to buy property there, or Taiwan won’t allow them to buy (reciprocity rule) taiwanhousing.tw. Mainland Chinese buyers, who were once supporting segments of Taipei’s luxury market, have largely disappeared after Beijing restricted overseas purchases investasian.com investasian.com – a reminder that political decisions can pull out a whole class of buyers. Continued cross-strait tensions or any instability can also impact values (Taipei’s risk profile includes earthquake and military conflict risk, which some foreign investors find concerning investasian.com).
• Illiquidity and Leverage Risk: With volumes down and transactions at multi-year lows, real estate in Taipei has become less liquid. An investor might find it takes significantly longer to sell a property now than during the boom. If one has leveraged up (though leverage is now limited, some investors still take secondary loans or unregulated financing), they could be stuck in a down market with carrying costs. The cost of carry has risen with new taxes: owning multiple vacant flats means paying up to 4.8% of assessed value in tax yearly taiwannews.com.tw taiwannews.com.tw – a steep bill that can eat into an investor’s capital if prices aren’t rising. Should interest rates rise in the future (not expected immediately, but a risk in a few years), highly leveraged owners could be squeezed further.
• Competition from Other Markets: Regionally, investors may find better prospects elsewhere. For instance, Malaysia or Vietnam offer higher rental yields and growth, Singapore offers more stability, etc. investasian.com investasian.com. There’s an opportunity cost to parking capital in a flat market. Some analysts openly suggest that Taiwan’s real estate has “very little profit left” and that one could find better returns in frontier markets or even other asset classes investasian.com investasian.com. The risk for an investor is that Taipei’s market might underperform for a decade while their money could have compounded elsewhere.

In summary, investing in Taipei real estate in 2025 is a cautious game. It can make sense for those seeking a home or a long-term store of value in a prime location, and there are pockets of growth (logistics, certain districts). However, speculative investing for quick gains is largely out – the market “begs for a correction” and arguably is undergoing one investasian.com investasian.com. Prudent investors will weigh the low yield/high price environment carefully. Risk mitigation strategies include: focusing on properties with unique value (e.g., near top schools or upcoming MRT lines), keeping leverage low, and maintaining a long investment horizon to ride out cycles. Also, diversification is key – many local investors historically put a huge share of wealth into property; the current climate suggests balancing with other investments to reduce exposure to this slow market phase.

District-Level Real Estate Dynamics in Taipei

Taipei City is a collection of diverse districts, each with its own real estate profile. Property prices and demand differ markedly from district to district, influenced by factors like location, development, amenities, and new supply. Here’s a breakdown of Taipei’s real estate dynamics at the district level:

• Da’an District: Renowned as Taipei’s most prestigious residential district, Da’an consistently has the highest property values in the city. It’s centrally located (home to Da’an Forest Park, top schools, and National Taiwan University nearby) and well-served by MRT lines. In recent data, average prices in Da’an range roughly NT$1.2–2.0 million per ping (US$400k–650k per 3.3m²) for apartments taiwanhousing.tw taiwanhousing.tw. This puts a standard 30 ping (99 m²) Da’an apartment easily above NT$36 million (US$1.2M). Da’an’s desirability (for both locals and expats) keeps demand resilient. Even in the 2024–25 correction, Da’an prices have held up; it’s often the benchmark for Taipei’s luxury market. However, being a mature area, new supply in Da’an is limited – most properties are resales or redevelopments of older buildings. Investors prize Da’an for its stability and liquidity (there’s always some demand for Taipei’s “Beverly Hills”).
• Xinyi District: The modern Xinyi district – Taipei’s finance and shopping hub, where Taipei 101 is located – rivals Da’an for top spot. Xinyi’s upscale condos in the 101 vicinity and “Xinyi Planning Area” often see prices in the same ballpark as Da’an (NT$1M+ per ping) vpon.com. The area around Sun Yat-sen Memorial Hall and Xinyi Anhe MRT is particularly pricey vpon.com. Xinyi’s appeal is its luxury high-rises, entertainment amenities, and corporate offices; it’s the go-to district for high-end developments. Real estate dynamics here include a mix of residential and office components – some units in Xinyi are serviced apartments or mixed-use. Supply is still growing slightly (e.g., new luxury towers like the Taipei Sky Tower project). In 2025, Xinyi condos remain in demand, though the ultra-high prices mean the pool of buyers is small. Many owners are wealthy families or investors from Taiwan’s business elite. The rental market in Xinyi caters to expatriates and executives, but yields are low relative to price. During the recent market slowdown, Xinyi saw fewer transactions, but prices haven’t notably crumbled – sellers prefer to hold unless they get their asking, knowing Xinyi’s unique cachet.
• Zhongzheng and Songshan: These districts form part of Taipei’s core as well. Zhongzheng District (which includes the Presidential Office, Chiang Kai-shek Memorial area) has a mix of government offices and older residential neighborhoods. It has some luxury pockets (e.g. near National Taiwan University Hospital area or civic center), but also many older buildings. Average prices in Zhongzheng are just slightly below Da’an – roughly in the NT$800k–900k per ping range as of a couple years ago vpon.com. Songshan District, especially in areas like Minsheng Community and around Nanjing East Road, is another high-price area with averages often above NT$800k per ping vpon.com. Both districts have convenient access and established communities. During the boom, these areas saw gentler growth compared to outskirts (because they were already high), and in the cooling they’ve had gentle declines. Songshan has some new upscale projects (e.g. around the Taipei Arena and in Nanjing/Fuxing vicinity) that keep its profile high. Zhongzheng, with many old apartments, might see more redevelopment in coming years due to urban renewal programs targeting aging buildings.
• Zhongshan and Shilin: Zhongshan District is partly very central (the corridor running north of Taipei Main Station through Zhongshan MRT and up to Dazhi/Mirramar area). It’s a district of contrasts: trendy upscale enclaves near Zhongshan MRT and Dunhua North, but also older low-rise neighborhoods. Certain parts like Dazhi/Tianmu (which is actually in Shilin District, but adjacent to Zhongshan’s Dazhi) host expatriate communities and large luxury units. Zhongshan’s average prices are high-mid range (~NT$750k/ping in 2022 data) vpon.com, buoyed by pockets of wealth. Shilin District on average is slightly cheaper (~NT$650k/ping) vpon.com, but it contains Tianmu, a wealthy suburb-like area where houses and apartments can be very pricey (Tianmu often rivals Da’an on a per ping basis for luxury homes). Shilin also includes much of Yangmingshan (mountain area), with some luxury villas and also cheaper older homes. In 2025, Shilin and Zhongshan see stable demand especially from families – Shilin for its space and international schools (good for expats), Zhongshan for its centrality. The MRT extension (Red line) into Tianmu is not yet realized, so those areas rely on buses/car, tempering demand growth.
• Neihu and Nangang: These two eastern districts are Taipei’s tech and business parks. Neihu became a technology hub with many IT corporate headquarters and also has middle-class residential neighborhoods. Nangang has the Nangang Software Park, Exhibition Center, and a growing number of high-rises. Real estate in Neihu has average prices in mid-tier (~NT$600k/ping) vpon.com, although some new projects top NT$800k. Nangang was historically cheaper, but with all the development, parts of it have risen quickly. Both districts have seen significant new supply – modern condos aimed at young professionals who work in the area, often at slightly more affordable prices than downtown. The completion of the Circular Line MRT and other transit improvements boosted their appeal. However, they are also more exposed to market swings; when the market was hot, Neihu/Nangang prices jumped fast, and when it cools, these districts have many units on the market. In 2025, if one is looking for a newer condo with facilities at a (relatively) lower cost, Neihu and Nangang provide options. Vacancy in some new buildings is notable, though, so buyers can negotiate deals (developers might offer discounts or perks on remaining units).
• Wanhua, Datong, Wenshan, Beitou: These districts generally represent the more “affordable” side of Taipei City (though affordable is very relative here). Wanhua is Taipei’s oldest district (historically called Mangka or Bangka) and has many heritage sites, but also a stigma as a less affluent area. It consistently has one of the lowest average house prices in the city – around NT$500–700k per ping on average (some old flats even under NT$400k/ping) newhouse.591.com.tw price.cthouse.com.tw. Wanhua’s Ximending area has seen new development (e.g., some high-rises marketed to young buyers), but overall it remains cheaper. In 2024–25, Wanhua’s lower price point actually attracted first-time buyers; one can get a small apartment for NT$10–15 million, which is almost impossible in Da’an or Xinyi estate.ltn.com.tw estate.ltn.com.tw. Datong is adjacent to Wanhua, with historic Dihua Street and traditional markets. It also has lower-mid prices (~NT$630k/ping in 2022) vpon.com vpon.com and has been undergoing gentrification. Wenshan (southernmost, including Muzha) is a quieter residential area with good MRT (Brown line) coverage; prices there can be under NT$700k/ping as well, and it’s popular for families seeking better air and more space (it borders the zoo and hills). Beitou (northern hot spring district) has a mix – hot spring luxury condos versus older buildings. Average is in NT$600–700k range. These outer districts tend to see less volatile price changes – they didn’t soar as much in the boom, so they aren’t dropping as much now. They benefit from “bargain hunting” when buyers who are priced out of central Taipei look for any Taipei address they can afford. Indeed, some of the best-selling residential communities in 2024 were in Wanhua, precisely because a NT$10–12 million budget could get a new small flat there – something impossible in eastern districts facebook.com estate.ltn.com.tw.
• New Taipei City (surrounding districts): While not part of Taipei City proper, it’s relevant to consider that districts just outside Taipei’s border (in New Taipei) strongly affect and are affected by Taipei’s market. Areas like Yonghe and Zhonghe (just across the river from southern Taipei), and Banqiao (to the southwest) have seen their prices climb to near-Taipei levels. In fact, Yonghe and Zhonghe in New Taipei have some neighborhoods with prices on par with Taipei’s lesser districts – they are extremely dense and sought-after due to short commutes (just a bridge away from Taipei). According to one analysis, Yonghe, Zhonghe, and Banqiao now boast per-ping prices approaching those of Taipei’s cheaper districts, often exceeding NT$600–800k/ping in top projects vpon.com vpon.com. Banqiao’s new Xinban Special District is a modern city center in its own right, with high-rises, malls, and government offices; it’s a big draw for people leaving Taipei. As noted earlier, Taipei City lost population to these areas – for instance, Taoyuan and New Taipei had net population inflows as people moved out to more affordable housing with new MRT links taiwannews.com.tw taiwannews.com.tw. This city-to-suburb migration trend is likely to persist, meaning strong demand in New Taipei’s close-in districts and a moderation of Taipei City’s growth. Investors might consider New Taipei districts as alternatives: they often offer better rental yields since purchase prices are a bit lower while rents aren’t proportionally lower (since many people are willing to rent there and commute).

To summarize Taipei’s district dynamics: central districts (Da’an, Xinyi, Songshan, etc.) have the highest prices and most stable demand, serving as the barometers of the luxury market. Peripheral districts (Wanhua, Wenshan, etc.) offer relatively lower entry prices and tend to attract first-time buyers and those on budgets, and they can see bursts of activity when affordability worsens in the city center. During the current market softening, we see that luxury districts are resilient but quiet (few forced sales, minor price dips), whereas mid-priced districts see more activity as buyers hunt for deals (but also not a collapse, since their prices weren’t excessively high to begin with). The interplay of Taipei City with New Taipei City is also crucial – improvements in regional transportation (new MRT lines, etc.) can quickly alter demand patterns. For example, when the new Wanda MRT line (under construction) opens, it will connect Wanhua/TVG areas with southern New Taipei, possibly boosting values along that route.

Ultimately, real estate in Taipei is highly localized. Prospective buyers or investors should study district-level trends: one neighborhood might be overbuilt and soft, while another a few kilometers away has pent-up demand and limited supply. Taipei’s property market is not monolithic, and a savvy strategy in 2025 is to focus on micro-locations – the “location, location, location” adage holds very true, whether it’s proximity to an MRT station, a top school district, or a new development zone.

Taipei vs. Other Major Taiwanese Cities: A Comparison

When comparing Taipei’s real estate market to other major Taiwanese cities such as Taichung and Kaohsiung (as well as New Taipei, Tainan, and Taoyuan), several distinctions emerge in terms of price levels, trends, and market drivers.

Price Levels: Taipei is by far the most expensive city in Taiwan for real estate. Even Taipei’s average home price per ping (㎡) dwarfs those in other cities. In early 2025, Taipei City’s average was about NT$1.233 million per ping taiwannews.com.tw taiwannews.com.tw, whereas other cities are generally a fraction of that. For instance, Hsinchu City – boosted by the tech industry – was the second priciest with around NT$594k per ping on average taiwannews.com.tw. Taoyuan’s average presale house price was about NT$372k per ping in 2025 taiwannews.com.tw. Taichung and Kaohsiung typically range in the NT$200k–400k per ping for most neighborhoods (with new luxury projects higher). All six special municipalities (Taipei, New Taipei, Taoyuan, Taichung, Tainan, Kaohsiung) now have average total home prices over NT$10 million taipeitimes.com taipeitimes.com, but you simply get a lot more home for that money outside Taipei. For example, a NT$15 million budget might buy a small 15 ping studio in Taipei, versus a comfortable 40 ping family apartment in Kaohsiung or Taichung.

Recent Price Trends: During the 2020–2022 boom and into 2023, several non-Taipei cities actually saw faster percentage price growth than Taipei. Low interest rates and pandemic liquidity flowed into regional housing markets. In the first half of 2024, Hsinchu, Taoyuan, Taichung, and Kaohsiung led the nation in price increases – Hsinchu’s house prices jumped 17.1% year-on-year, with Taoyuan up 15.6%, Taichung 14.9%, and Kaohsiung 13.1% taipeitimes.com taipeitimes.com. Taipei’s growth was more modest (around 5% in that period) taipeitimes.com. This pattern was sometimes called the “urban diffusion” of the boom: as Taipei got expensive, speculative and genuine buying spread to cities like Taichung (which became Taiwan’s second-largest city by population) and Kaohsiung (attractive due to new infrastructure and industries).

However, in the ensuing market correction (late 2024), those cities that overshot are seeing larger corrections. As mentioned earlier, Q4 2024 saw prices drop in all major cities, but Kaohsiung and Tainan fell the most (around 10% QoQ in Kaohsiung, 7% in Tainan) taiwannews.com.tw taiwannews.com.tw. Taichung and Taoyuan had moderate drops (~3–5%), and Taipei/New Taipei the smallest (~2–3%) taiwannews.com.tw taiwannews.com.tw. This highlights a key difference: Taipei’s market, though expensive, is less volatile – it didn’t inflate as rapidly as, say, Kaohsiung, so it didn’t deflate as hard. Kaohsiung’s surge was partly driven by expectations around industrial investments (like TSMC’s planned fabs and other tech projects) and infrastructure (new MRT lines, port redevelopment). When those expectations weren’t immediately met by fundamentals (tech projects delayed, local incomes lagging), a correction ensued taiwannews.com.tw taiwannews.com.tw. Taipei, being more mature, was more tempered.

Economic Drivers and Demand: Each city has its own drivers. Taipei is driven by white-collar employment, government presence, and limited land. Taichung, with a population comparable to Taipei, has a more manufacturing-based economy (machinery, aerospace) but also a growing services sector; its housing market benefited from people and businesses relocating there (it’s centrally located and has cheaper land). Kaohsiung historically was industrial (petrochemical, shipping), and it’s now trying to pivot to tech (semiconductor) and tourism. The promise of those new industries drove a lot of speculative buying in 2021-2023 – often dubbed the “TSMC effect.” In Kaohsiung’s Nanzih district (where TSMC is setting up), housing prices reportedly soared nearly 90% from 2020 to 2023 in anticipation straitstimes.com straitstimes.com. That is far above anything seen in Taipei. But, as noted by analysts, Kaohsiung’s local salaries and infrastructure haven’t caught up, so such gains may not be fully sustained taiwannews.com.tw. Tainan had a similar TSMC effect (with the Southern Taiwan Science Park), boosting its previously very low prices. Hsinchu (not a major city by size, but worth mentioning) has the Science Park and the highest incomes in Taiwan, explaining its second-highest home prices. Taoyuan benefits from proximity to Taipei and the international airport, making it a hotbed for affordable housing for Taipei commuters; it has consistently high transaction volumes and population growth (Taoyuan saw the largest net inbound migration in early 2025 among all cities) taiwannews.com.tw.

Supply Differences: Taipei’s housing supply is constrained (little empty land, complex redevelopment process), whereas cities like Taichung or Kaohsiung have more room to sprawl or redevelop large tracts. This means oversupply risk is higher outside Taipei. For instance, Taichung in past cycles built too many luxury apartments which then sat unsold. In the current cycle, New Taipei surprisingly had a big cutback in 2024 starts (-62% as noted) due to oversupply in certain zones taiwannews.com.tw taiwannews.com.tw. Taichung had the highest housing starts in 2024 among all regions (33k units) taiwannews.com.tw, which could signal future oversupply there if demand doesn’t keep up. Taipei’s new supply is modest and usually quickly absorbed (if priced right) because of genuine demand and replacement of old buildings. So, investors see Taipei as lower-risk in terms of inventory glut, whereas they must be careful in places like Taichung’s new town areas or Kaohsiung’s outskirts where entire new communities are being built.

Yield and Investment Climate: Interestingly, rental yields are low across Taiwan, but they are slightly better outside Taipei. In Taipei ~2% is common, but in Kaohsiung or Taichung you might get 2.5–3% in some cases due to the lower property prices. Foreign investment in Taiwan’s property is relatively small and mostly focused on Taipei; other cities don’t see much international buyer activity aside from some overseas Taiwanese. The risk profile differs too – Taipei might be more exposed to certain risks (e.g., it’s the political center, so any conflict would impact it first), while southern cities face different risks (industrial volatility). But broadly, all cities would be impacted by any major national issues like interest rate changes or geopolitical events.

Policy Impact: The central bank’s credit controls and the new tax laws we discussed apply nationally, so they affect all cities. In fact, some measures initially targeted Taipei and New Taipei (where speculation was worst) and then extended out. Now, an investor in Taichung buying a third home faces the same LTV limits and tax surcharges as one in Taipei taiwanhousing.tw taiwanhousing.tw. This means the playing field in terms of policy is more level than before. It may actually help Taipei retain value – previously speculators avoided Taipei due to higher entry cost and moved to Taichung/Kaohsiung, inflating those markets, but now with rules everywhere, that arbitrage is reduced. We saw this in late 2024 when all cities felt the chill once credit tightened taiwannews.com.tw taiwannews.com.tw.

To put it concisely, Taipei’s real estate is like a high-value blue-chip stock: expensive, relatively stable, lower growth, while cities like Taichung/Kaohsiung are more like growth stocks: cheaper but more volatile and cyclical. Taipei leads in price level; others sometimes lead in growth rate. In the next few years, many expect “tier-2” cities (Taichung, Kaohsiung) to have a bumpy ride – they boomed and now need to digest that. Taipei might see less dramatic swings, but it also means less dramatic gains.

A quick comparison snapshot:

• Taipei City: ~NT$1.2M/ping avg, ~3% price dip in recent correction taiwannews.com.tw. Pros: highest demand, scarce supply, resilient values. Cons: severely unaffordable, low yield.
• New Taipei City: ~NT$600-800k/ping in popular districts, smaller dip (2.3% in Q4) taiwannews.com.tw taiwannews.com.tw. Effectively an extension of Taipei market with slightly more affordable options. Some oversupply in new zones, but overall strong due to population inflow.
• Taoyuan: ~NT$300-400k/ping, moderate dip (~4.8% in Q4) taiwannews.com.tw. Very active market thanks to industry and Airport MRT. Price growth had been high; now calming.
• Taichung: ~NT$300k/ping (varies), dip ~3.2% in Q4 taiwannews.com.tw. Big market by volume. Watch for oversupply in certain districts; still, it’s central Taiwan’s economic hub, so demand exists.
• Tainan: ~NT$200-300k/ping, dip ~7% in Q4 taiwannews.com.tw taiwannews.com.tw. Boosted by TSMC fab; had low base prices so still relatively affordable. Could see continued growth if tech industry thrives, but incomes are low there.
• Kaohsiung: ~NT$250-350k/ping, dip ~10% in Q4 taiwannews.com.tw taiwannews.com.tw. Was a hot story due to redevelopment and tech plans; now correcting. Long-term depends on success of economic transformation (from heavy industry to high-tech and services).

In conclusion, Taipei remains the priciest and most “elite” market, whereas other cities provide affordability and sometimes faster short-term growth. However, the recent bust after the boom in places like Kaohsiung shows the risk of chasing rapid gains. Many Taiwanese investors actually diversify – owning a home in Taipei (for stability/status) and maybe a rental property in Taichung or Kaohsiung (for yield or potential growth). For a foreign or any investor comparing, the question is risk tolerance: Taipei is lower risk, lower return; other cities higher risk, potentially higher return. And as always, local knowledge is key – each city has its own micro-markets and it’s wise to study them individually.

---

Sources:

• Taipei Times (Crystal Hsu), “Housing market to remain in a slump: Evertrust”, Jun. 25, 2025 – Evertrust Rehouse report on transaction declines and forecast of continued moderate price correction taipeitimes.com taipeitimes.com.
• Taipei Times (Crystal Hsu), “Property market cooling rapidly, Evertrust says”, May 20, 2025 – Data on widened price negotiation gaps by city and falling transactions in Q1 2025 taipeitimes.com taipeitimes.com.
• Taiwan News (TY), “Taiwan’s housing prices fell 6.6% in Q4”, Apr. 14, 2025 – MOI statistics on Q4 2024 price drops in six cities and analysis from Chinatrust Real Estate taiwannews.com.tw taiwannews.com.tw.
• Taiwan News (Liz Chung), “20,000 residents leave Taipei in Q1 over high housing prices”, Apr. 25, 2025 – Cites MOI data on Taipei’s average price per ping and population migration to cheaper cities (Taoyuan, etc.) taiwannews.com.tw taiwannews.com.tw.
• CBRE Taiwan, “2025 Taiwan Real Estate Market Outlook”, Apr. 2025 – Market outlook highlights (interest rates flat; office vacancy rising to 7-year high; cautious retail; lower investment volumes amid cooling housing) cbreemail.com cbreemail.com.
• Taiwan Housing (blog), “2025 mortgage policy update: What foreign buyers need to know”, 2024 – Summary of Central Bank selective credit controls (LTV cuts, no grace period, nationwide scope) and their goals taiwanhousing.tw taiwanhousing.tw.
• Taiwan News, “Taiwan’s new housing tax rates to benefit foreign residents”, Sep. 5, 2024 – House Tax Act revisions (House Hoarding Tax 2.0) details: 2~4.8% tax on non-owner homes, 1% on owner-occupied; inclusion of foreign ARC holders taiwannews.com.tw taiwannews.com.tw.
• Taipei Times, “New tax rates to benefit foreigners”, Sep. 5, 2024 – MOF announcement on allowing foreigners with ARC to get owner-occupier tax rate (1.2% -> 1%) taipeitimes.com taipeitimes.com.
• Taipei Times (Crystal Hsu), “Housing transactions soar 27 percent”, Jul. 31, 2024 – Sinyi Realty report on H1 2024 transactions and price jumps in cities (Hsinchu, Taoyuan, etc.), plus mention of credit tightening measures in mid-2024 taipeitimes.com taipeitimes.com.
• InvestAsian, “Taiwan Real Estate: Asia’s Most Overpriced?”, Feb. 20, 2025 – Critical view on Taiwan housing: notes Taipei prices ~$7,000/sqm, low rental yields ~2%, unaffordability (40 years’ income for a home), and waning Chinese investor support investasian.com investasian.com.
• Vpon Big Data, “House Prices and Population Trends in Greater Taipei”, Nov. 2022 – District-wise price info: confirms Da’an as highest (~NT$1M/ping), outer districts lower, and New Taipei’s Yonghe/Banqiao approaching Taipei prices vpon.com vpon.com.
• Taiwan News, “Taiwan housing starts saw five-year low in 2024”, Feb. 6, 2025 – MOI data on housing starts by city (overall down, New Taipei -62.9% YOY) and description of developers’ reaction to credit controls taiwannews.com.tw taiwannews.com.tw.
• Taiwan News, “Taiwan cracks down on speculative housing loans”, Feb. 2025 – (Referenced via blog) details on credit control measures and first-time buyer loan reviews taipeitimes.com taipeitimes.com.
• The above sources and data provide the factual backbone of this report, offering a comprehensive view of Taipei’s real estate market in 2025 and beyond.