Save Taiwan House Price Index by City

Sinyi house price index bases only on secondhand residential houses nationwide, while Cathay house price index bases on pre-sale and newly built houses in six major cities.

Since "Directions for Electronic-Filing of Individual Income Tax on House and Land Transactions" came into effect in 2016, the house market declined into recession until funds re-entered the market after major countries implemented monetary easing program.

Save Taiwan Sinyi House Price Index (YoY)

Sinyi house price index bases only on secondhand residential houses nationwide, while Cathay house price index bases on pre-sale and newly built houses in six major cities.

Save Taiwan House Price Index: Taipei & New Taipei City

Sinyi house price index bases only on secondhand residential houses nationwide, while Cathay house price index bases on pre-sale and newly built houses in six major cities.

Since "Directions for Electronic-Filing of Individual Income Tax on House and Land Transactions" came into effect in 2016, the house market declined into recession until funds re-entered the market after major countries implemented monetary easing program.

Save Taiwan Cathay House Price Index: Nationwide

Sinyi house price index bases only on secondhand residential houses nationwide, while Cathay house price index bases on pre-sale and newly built houses in six major cities.

Since "Directions for Electronic-Filing of Individual Income Tax on House and Land Transactions" came into effect in 2016, the house market declined into recession until funds re-entered the market after major countries implemented monetary easing program.

Save Taiwan Cathay House Price Index by City

Sinyi house price index bases only on secondhand residential houses nationwide, while Cathay house price index bases on pre-sale and newly built houses in six major cities.

Since "Directions for Electronic-Filing of Individual Income Tax on House and Land Transactions" came into effect in 2016, the house market declined into recession until funds re-entered the market after major countries implemented monetary easing program.

Save Taiwan Cathay House Price Index (YoY)

Sinyi house price index bases only on secondhand residential houses nationwide, while Cathay house price index bases on pre-sale and newly built houses in six major cities.

Save Taiwan AIFE House Price Index

Taiwan's AIFE House Price Index is compiled by NTHU's Anfu institute for financial engineering and Anfu Solutions. The base period of the index is January of 2013.

The algorithm searches for similar deals within the same month and measures the changes in the prices of these similar deals. The Taiwanese government introduced transaction price registration in 2012 and the database updates every month.

Save Taiwan AIFE House Price of Six Metropolitans

Taiwan's AIFE House Price Index is compiled by NTHU's Anfu institute for financial engineering and Anfu Solutions. The base period of the index is January of 2013.

The algorithm searches for similar deals within the same month and measures the changes in the prices of these similar deals. The Taiwanese government introduced transaction price registration in 2012 and the database updates every month.

Save Taiwan Mortgage Interest Rate

Taiwanese central bank (CBC) releases the amount of new mortgage loans undertaken by 5 major banks in Taiwan: Bank of Taiwan, Taiwan Cooperative Bank, Land Bank, Hua-nan Bank and First Bank.

Rate hike by CBC usually leads to mortgage rates rise.

Rates slid in 2000 due to the Internet bubble. Improvements of mortgage rates followed rate hikes by CBC in late 2004. Rates remain low since Financial Crisis in 2008 during which CBC cut rates.

Save Taiwan Amount of New Mortgage Loans

Taiwanese central bank (CBC) releases the amount of new mortgage loans undertaken by 5 major banks in Taiwan: Bank of Taiwan, Taiwan Cooperative Bank, Land Bank, Hua-nan Bank and First Bank.

The amount of new mortgage loans represents the ongoing activities in the housing market.

CBC introduced a series of policies in 2010 to suppress house price, including capping the number of mortgage undertakings, prohibiting loans under other purposes, and forbidding due extensions.

Luxury tax came into effect in 2011, and sales of house slid during 2014 to 2016.

There shows a particular surge in undertakings of mortgage in December 2015 before the "Directions for Electronic-Filing of Individual Income Tax on House and Land Transactions" came into effect in 2016.

Save Taiwan Outstanding Mortgage

CBC releases outstanding mortgage monthly and it grows steadily at a pace of 4 to 6%.

A healthy, expanding house market leads to increases of outstanding mortgage balance, so does rising interest rates.

Save Taiwan Consumer House Loans vs. Construction Loans (YoY)

Consumer house loans and construction loans, released monthly by the Central Bank, reflect the demand and supply of houses.

Save Taiwan House Transfers

Ministry of Interior releases house transfers monthly. Means of transferring include to buy/sell, auction, inherit, gift, and others (e.g. transferring between government authorities.)

The most common way to transfer a house/building is through transaction. The more sales there are, the more active the house market is.

When the owner defaults his/her mortgage, the property will be put up for auction. More auctions of houses suggest the economy is worsening.

The Central Bank introduced a series of policies in 2010 to suppress house price, including capping the number of mortgage undertakings, prohibiting loans under other purposes, and forbidding due extensions. Sales of houses slid until 2016 when the regulations relaxed.

Save Taiwan House Transfers: Transaction

Ministry of Interior releases house transfers monthly. The most common way to transfer houses/buildings is through transaction. The more sales there are, the more active the house market is.

The Central Bank introduced a series of policies in 2010 to suppress house price, which showed negative growth until 2016 when the regulations relaxed. Number of transactions, however, is still low.

Save Taiwan House Transfers: Auction

When the property owner defaults his/her mortgage, the house will be put up for auction. More auctions of houses suggest the economy is worsening.

After CBC introduced a series of policies in 2010 to suppress house price, qualifications for getting a mortgage became more strict, so number of houses in auction decreased to 300 to 500 each month. Weak sales also lead to decrease of house auction.

Save Taiwan Loan to Earnings Ratio vs. Mortgage Delinquency Rate

Loan to earnings ratio represents one's ability to afford mortgage. When the ratio is low, there's room for house price to rise.

Mortgage delinquency rate = non-performing mortgage / sum of mortgage
Rising delinquency rate suggests bearish economic conditions in the house market or the overall economy.

Save Taiwan Housing Market Cycle Clock

The constituents are the licensed area, registered area and sold area of constructions.

Licensed area is the newly-permitted pre-construction area.

Registered area includes the newly-built, pre-sold and unsold homes registered at the land office for the first time.

Sold area includes all registered homes sold and pre-sold.

Demand of housing (sold area minus registered area) reflects the housing market conditions. A positive result means the housing market is undersupplied.

Save Taiwan Barely-used Housing Ratio [Vacancy Rate]

Barely used housing / total number of housing = vacancy rate

Houses with low electricity consumption is considered "barely-used" in Taiwan. The average power consumption is 55-62 kWh. Housing units with an average power consumption lower than 60 kWh in May, June, November, and December are considered barely-used or vacant.

However, vacancy rate does not include pre-sale units and in-sale units while they are what actually have an impact on the housing market. With low interest rates, vacancy rate is kept at a constant high.

Save Taiwan House for Sale vs. Housing Price

In Taiwan, houses no older than 5 years, registered under the first owner, and up for sale are seen as spare new houses (blue bar), or as "housing inventory", while pre-sale units are "housing supply". When inventory rises, the housing market is oversupplied, which could lead to decline in housing prices.

Save Taiwan - Xinyi House Price Index vs. Nominal GDP