Taiwan's May Property Transactions in Six Major Cities Rise Monthly but Fall Annually, Market Remains at Low Levels

According to the Central News Agency, the land administration bureaus of Taiwan's six major cities announced that the total number of building transactions in May was 16,558, up 5.6% from the previous month but down 3.7% from the same period last year, marking the lowest level for the period since 2011. Real estate agents pointed out that driven by the completion of some new projects and the gradual return of self-use buyers, transaction volume in May rebounded compared to April. However, the market is still affected by credit controls and mortgage tightening, and buying sentiment has not yet returned to the level of the same period last year. Zeng Jingde of Sinyi Realty stated that the gradual return of deferred demand since late March, coupled with the wealth effect from the stock market, has provided support to the property market. In Kaohsiung, the completion of new projects related to TSMC's plant construction contributed to a 17-month high. Experts believe the market's direction depends on the central bank's upcoming policy decisions.