• By Crystal Hsu / Staff Reporter

The climate monitor for pre-sales and newly completed homes last month remained “green” in the north for the 13th consecutive month, but showed signs of slowing as developers postponed projects, Chinese newspaper My said on Thursday. Housing Monthly.

The confidence reading printed 45.7, losing 6.1 points from July as developers and builders postponed projects for the shadow month, which this year was July 29 to August 26 and is usually a period unfavorable for doing business, the real estate research publication said.

The score was the lowest this year, but the gauge remained in a stable growth zone, he said.

Photo: Hsu Yi-ping, Taipei Times

“Economic uncertainty and interest rate hikes are weakening sentiment, but supply refuses to lower prices,” said Ho Shih-chang, head of research at My Housing Monthly (何世昌).

However, developers have postponed the launch of new projects to ease sales pressures, Ho said.

The approach appeared to be working, but may not be sustainable if the developers return to active promotion in the upcoming season starting Sept. 28 and sales disappoint, the analyst said.

Last month, new presale projects were expected to generate NT$70 billion (US$2.28 billion) in total revenue, with two projects valued at more than NT$1.5 billion in Beitou (北投) and Wanhua (萬華) in Taipei, and eight in New Taipei. The city districts of Sanchong (三重), Linkou (林口), Tamsui (淡水) and Taishan (泰山), according to the report.

My Housing Monthly defines projects over NT$1.5 billion as major projects. Only six projects met this criterion in Taoyuan and Hsinchu City, and none in Keelung or Yilan County.

Selling rates fell from 2.6 transactions to 2.2 transactions per week last month, while receiving sites met 22 groups of potential buyers per week, compared to 28 in July, he said, adding that interest was slow for Keelung and Yilan.

The newly completed houses amounted to 400 apartments with a single compound in Keelung valued at more than NT$1.5 billion, he said.

However, concession rates fell 0.27 percentage points to 10.49% as promoters showed no intention to concede to facilitate deals, Ho said, adding that the inflexible stance was due to the lack of selling pressure.

Developers are instead looking to find buyers online, with the number of projects for sale online rising to 1,024 projects, Ho said.

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