Taiwan Luxury Home Prices To Rise In 2010 - CB Richard Ellis

Crystal Hsu Dow Jones Newswires 01/28/2010 13:48

Taiwan Luxury Home Prices To Rise In 2010 - CB Richard Ellis - Taiwan - China - home prices - CBRE

TAIPEI -(Dow Jones)- Taiwan's luxury home prices will likely rise at a robust pace this year, due to stronger demand from China-based Taiwanese businessmen buying property on the island, officials at CB Richard Ellis Ltd. Taiwan said Thursday.

"Taiwan businesspeople have been remitting funds from China and elsewhere to buy deluxe apartments for their own use or investment purposes," Van W. Hong, the company's managing director, said at a news briefingon the outlook for the island's luxury housing market.

Van said Taiwan's luxury apartments are cheaper than those in Hong Kong, Singapore, Shanghai and Beijing, making them more attractive.

"Limited supply and low interest rates have also boosted demand," Van said, adding Chinese investors may also start buying property on the island later this year.

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