CBRE targets a buoyant real estate market in the south

  • By Crystal Hsu / Staff Reporter

International real estate consultancy CBRE Taiwan (世邦魏理仕台灣) announced Thursday that it has opened an office in Tainan as real estate transactions grew faster in southern Taiwan than in the north.

The Taiwan branch of CBRE Ltd said it has expanded operations to take advantage of a healthy real estate market.

The country’s economy probably grew by 6.1% last year, while commercial real estate transactions, including land, totaled NT$445.9 billion ($16.1 billion), surpassing the NT$400 billion mark for the second consecutive year, the company said.

Land deals in central and southern Taiwan accounted for 50% of the total, or NT$62 billion, he said.

“We expect the growth momentum to continue this year as major local and foreign companies have announced investment plans in southern Taiwan,” CBRE Taiwan Managing Director Cynthia Chu (朱幸兒) said. ).

The country’s economy is expected to continue to perform well, supporting the real estate market, but interest rate hikes and tightening lending measures are causing uncertainty, said Ping Lee (李嘉玶), head of the research at CBRE Taiwan, after interviewing leading local investment institutes.

Land prices may remain firm on the back of actual demand, but are unlikely to hit record highs, CBRE Taiwan said.

A lack of new office space and rising construction costs could prompt companies with expansion plans to consider buying their own buildings, which would support commercial property prices, he said. declared.

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