Reported 12 months ago
On June 26, the Kaohsiung City Government's Land Department conducted the second-quarter land auction, with 37 participants bidding on 7 plots of land, totaling over NT$30.6 billion in sales. One particular plot in the Nanzih Gaoda Special District fetched a bid of NT$10.71 billion, marking a premium ratio of 129.44%. Legislator Bai Qiaoyin criticized the rampant land grabbing by conglomerates, emphasizing the financial strain it puts on young homebuyers who must sacrifice basic needs to save for down payments. The average premium ratio for the total land sales was 57.5%, with Bai pointing out the growing income disparity in Taiwan and the challenges faced by low-wage earners in affording housing.
Source: YAHOO