Housing: Unsold New Homes in Taiwan Hit Record High, Only New Taipei Sees Inventory Decline

According to the latest statistics from the Ministry of the Interior's real estate information platform, the total number of unsold new homes across Taiwan reached 112,501 units in the fourth quarter of 2025, an increase of 1,416 units compared to the same period in 2024, setting another historical record. Further analysis of the six major cities reveals that New Taipei City's inventory dropped from 20,542 units in Q4 2024 to 19,233 units in Q4 2025, a year-on-year decrease of 1,309 units—making it the only metropolitan area among the six to show a decline.

In contrast, Kaohsiung's unsold new home inventory surged to 15,965 units, up 2,064 units from the previous year—the highest increase among the six cities and a new local record. For the other four cities, Taoyuan increased by 983 units, Taichung by 393 units, Taipei by 242 units, and Tainan by 61 units. Overall, most metropolitan areas show stable or slightly increasing inventory levels.

Chung-Hsin Real Estate Research & Development Deputy Manager Chuang Szu-min noted that developers have launched large-scale projects in recent years, and as presale units are completed and handed over, unsold units are transferred into the unsold inventory. Therefore, it is not surprising that the total number of unsold new homes across Taiwan has reached a new high. On the other hand, housing supply has significantly increased in recent years, especially in emerging redevelopment zones and peripheral areas, where the pace of new home completion has outpaced market absorption, leading to inventory accumulation in the short term.

Regarding New Taipei City being the only city with declining inventory among the six, Chuang pointed out that the city has a large population and stable long-term owner-occupier demand. Coupled with a well-developed transportation network and industrial clusters, it continues to attract commuters from the Taipei-New Taipei area, providing relatively strong support for the local housing market. Moreover, in recent years, living amenities in some of New Taipei’s emerging redevelopment zones have gradually been completed, allowing new project sales to maintain a certain level, resulting in significantly lower pressure on unsold new home inventory compared to other metropolitan areas.

As for Kaohsiung’s record-high unsold inventory, Chuang noted that in recent years, major developments such as TSMC’s (2330-TW) factory construction, the Asia New Bay Area, science parks, and MRT expansions have attracted developers to actively launch projects in the south, leading to rapid market supply expansion. Now entering a peak handover period, the number of unsold new homes has risen accordingly. However, with the Central Bank’s credit controls not yet fully relaxed and mortgage lending remaining tight, homebuyers face difficulties in securing financing, leading to strong观望 sentiment. The market absorption pace has slowed, and sales pressure on new homes continues to accumulate. In the short term, Kaohsiung’s new home market is likely to continue facing significant absorption challenges.

Looking ahead, Chuang stated that unless there is a clear easing in the overall economic environment, interest rates, or mortgage policies, unsold new home inventory is expected to remain at high levels. For first-time buyers or those looking to upgrade, existing homes are also a good option. Most existing homes are located in core living areas with mature amenities and convenient transportation, offering stronger resilience against price declines and better value retention. Additionally, many existing home owners have held their properties for a long time with relatively low acquisition costs, making them more willing to offer discounts to close deals under current market conditions. Buyers may thus have the opportunity to purchase their desired properties at more reasonable prices.