Property: Stock Market Highs Prompt Capital Shift – Six Major Cities See Housing Transactions Surpass 20,000 Units for First Time in 19 Months in July 2026

Today (August 3), the six major metropolitan areas in Taiwan released the "number of building sale-transfer registrations" for July 2026. The combined transaction volume across the six cities totaled 20,506 units, representing a 12% month-on-month increase and an 8.8% year-on-year rise—surpassing 20,000 units for the first time since January 2025 and reaching the highest single-month level in 19 months. From January to July 2026, the total housing transaction volume in the six cities amounted to 117,944 units, down 0.9% compared to the same period last year.

Tseng Ching-Te, Project Manager at Sinyi Realty's (9940-TW) Real Estate Research Institute, stated that in the first quarter of 2026, the Central Bank of Taiwan slightly eased regulations, coupled with the wealth effect from a strong stock market rally in the first half of the year. From late March through June, market transactions showed signs of recovery, with buyer sentiment remaining stable. However, despite this回暖, demand remains primarily driven by end-users rather than speculative investors expecting future price appreciation. Therefore, the market continues to be dominated by self-use demand and remains in a consolidation phase.

Chen Chin-Ping, Deputy Director of the Research & Development Center at Yongqing House, noted that Taipei City saw a 17.5% month-on-month increase, New Taipei City rose 2.7%, Taoyuan City increased 12.5% from June, Taichung City grew 18.8%, Tainan City rose 8.8%, and Kaohsiung City surged 17.2%.

Chen pointed out that there is typically about a one-month lag between property transactions and registration. Thus, the July building transfer data reflects market performance from June to early July. Thanks to robust exports of AI and tech products, domestic economic growth has continued, and public confidence in employment and income prospects remains relatively stable, supporting both owner-occupier and asset-purchase demand.

Meanwhile, with the Taiwan stock market still performing strongly, some individuals, wary of overvalued equities, have taken profits at market highs. Coupled with persistent inflation expectations, they have redirected part of their capital into the property market, providing additional support. Additionally, ongoing waves of new home deliveries in certain urban areas have further boosted the growth in building transfer registrations, driving the six cities’ July transaction volume up more than 10% from June.

Chen further observed that all six metropolitan areas recorded their highest monthly transfer volumes so far in 2026. Taipei City, Taichung City, and Kaohsiung City each posted growth exceeding 15%, standing out the most. This was mainly driven by districts such as Wanhua in Taipei, Nanzhou, Wuri, and Wuqi in Taichung, and Gushan and Sanmin in Kaohsiung—all registering over 100 additional units—where large-scale new home handovers significantly lifted overall transfer numbers.

Compared to July 2025, the six cities collectively saw an 8.8% year-on-year increase in building transfer registrations. Specifically, Taipei City rose 13.5%, New Taipei City 8.9%, Taoyuan City 0.1%, Taichung City 1.2%, Tainan City 10.9%, and Kaohsiung City surged 26.2%.

Looking at cumulative data from January to July 2026, the total number of building transfer registrations across the six cities reached 117,944 units, down 0.9% year-on-year. This indicates that housing market activity in 2026 has largely stabilized and nearly returned to last year’s levels, with the decline narrowing. Performance varied across cities, primarily influenced by differences in new home delivery volumes. Specifically, Taipei City rose 3.8%, New Taipei City 1.7%, Taoyuan City fell 5.9%, Taichung City dropped 9.3%, Tainan City increased 1.1%, and Kaohsiung City rose 7.5%.

Looking ahead, Chen stated that with Taiwan’s economy steadily recovering, the stock market trading near highs, and a large number of new homes scheduled for delivery this year, housing transaction volumes are expected to stabilize. However, without significant easing of credit controls and given the ongoing gap between housing prices and incomes, there is limited room for a substantial surge in buyer demand. As a result, future market performance will depend more on fundamental factors such as regional supply-demand dynamics, product features, and affordability, leading to continued regional divergence. The trend of self-use and long-term asset acquisition remaining the primary drivers of the market is expected to persist.