World Economy

Taiwan Home Prices to Fall

Taiwan Home Prices to FallTaiwan Home Prices to Fall

The continued launch of new private sector housing projects in Taiwan is likely to drive down home prices by about 10% next year, according to Yung Ching Realty Group, CNA reported. Chung Ying-lin, a manager at the real estate company, said in a report that with the entry of about 100,000 new housing units on the domestic market next year and the implementation of a capital gains tax on property transactions, sellers would be more inclined to lower their prices. The capital gains tax of up to 45% on profits from the sale of homes was approved in June and will be implemented in 2016.