One 殯 Demolition Imminent: Experts Say Surrounding Property Prices Rising While Transaction Volume Freezes Up

Reported 10 months ago

The Taipei City's first funeral home, which has been in existence for 58 years, will begin demolition tomorrow (6/13). Surrounding property prices have risen by over 10% since 2021, but there has been a significant decrease in transaction volume. Real estate agents observe that the area's property prices have increased from NT$689,000 per ping to NT$769,000 per ping, with a hike of 11.7%. They point out that due to the benefits of demolition, local residents tend to hold onto assets and wait for further price increases. The analysis also shows a 45.3% drop in transaction volume from 274 transactions in 2021 to 150 in 2024, despite the 11.7% price increase. With the upcoming change in land use, property prices have reached an average of NT$700,000 per ping, causing transaction volume to plummet. The surrounding area used to consist of aged apartments with prices around NT$500,000 to 600,000 per ping. The funeral home's relocation is expected to have a significant impact on property prices in the area.

Source: YAHOO

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