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.
