Real estate markets show divergent trends in Taiwan and Canada

Real estate markets in Northern Taiwan and the Greater Toronto Area are showing divergent trends in new housing sales.

In Northern Taiwan, residential project volumes for the first three quarters of the year fell by 17.6% year-on-year, totaling approximately 766.7 billion TWD. Major hubs like Taipei and Taoyuan saw significant declines, with Taipei dropping 30.7% and Taoyuan by 32.2%. Analysts suggest that high property prices, difficulty in obtaining loans, and investor preference for the stock market have contributed to developer caution. Conversely, Hsinchu experienced a strong rebound with a 99.7% increase in project volume.

In the Greater Toronto Area, August saw a significant rebound in low-rise new home sales, which increased by over 222% compared to the same period last year. This growth is largely attributed to the HST tax rebate program, which offers significant savings for homes priced under 1.5 million CAD. While low-rise sales (detached, semi-detached, and townhouses) performed well, the condominium market remains sluggish, with sales still significantly below the 10-year average.