Reported about 1 year ago
In the past five years, developers in Taiwan have been rushing to acquire large old restaurants, with the redevelopment policy for old and dangerous buildings playing a crucial role. The government implemented the policy in 2017 to speed up the renovation of old houses. With streamlined administrative procedures and volume incentives, developers shifted their focus to properties over 30 years old. As a result, many aging large restaurants have become popular among developers. The policy, initially planned for ten years, has achieved remarkable results in eight years with 3,599 approved cases, revitalizing old areas. The Interior Ministry hinted that the policy might be extended beyond its original deadline, providing more time for developers to benefit from related incentives. This extension would allow the criteria to be applied to buildings over 20 years old, offering more flexibility in planning.
Source: YAHOO