Beitou's New Housing Prices Soar Past One Million NT Dollars: Top-Notch Schools and Healthcare Draw in Families and Retirees

Taiwan • Business • 04/28 02:00
Beitou's New Housing Prices Soar Past One Million NT Dollars: Top-Notch Schools and Healthcare Draw in Families and Retirees

Beitou District, Taipei City, has become a real estate hotspot due to the development of the Beitou-Shilin Technology Park and convenient transportation, with new construction prices exceeding one million NTD per ping. The area boasts high-quality school districts and well-developed medical resources, attracting small families and retirees. Despite rising prices, Beitou still holds a price advantage compared to downtown Taipei, making it a popular choice for homebuyers. This article explores the reasons behind the rising prices of new constructions in Beitou, the area's advantages, and the market's response.

Key Updates

05/05 06:00

Taiwan's New Housing Tax 2.0 System to Launch in July 2024: Impact on Annual Levy and Ownership Transfer

Starting from July 1, 2024, Taiwan will implement the "House Tax 2.0" system, switching to an annual assessment. The tax period will run from July 1 to June 30 of the following year, with the tax base date set on the last day of February each year. If the property ownership registration is completed by February 28 (or 29 in a leap year), the house tax for that year will be the responsibility of the new owner; otherwise, the original owner will be responsible for paying it. This change impacts tax responsibilities in property sales and auctions, and it is advisable to clearly specify tax-sharing clauses in contracts to prevent disputes.

05/05 06:00

Taiwan's housing prices have increased by 25% in the past three years, and rents have been rising for 45 consecutive months. The government is responding with subsidies and tax reforms.

Over the past three years, housing prices in Taiwan have risen by 24.8%, and the rent index has increased by 7%, with 45 consecutive months of increase, indicating an increased burden on renters. The government is implementing rent subsidies and tax transparency policies, and reforming the tax system to incentivize landlords to report rental income legally. The appreciation of the New Taiwan Dollar has attracted capital back, impacting asset allocation in the housing market. These measures are intended to ease rental pressure and enhance market transparency.

05/04 18:00

Developers are promoting low down payments and construction upgrade strategies to capture the last opportunity market of the new young homebuyer policy.

Faced with the impending end of the new Youth Housing Policy and a weakening real estate market, developers are offering low down payment incentives and building upgrade strategies to attract home buyers. The minimum home purchase threshold is set at 250,000 NTD, and introducing designs such as green buildings and smart homes. Despite this, real estate market transaction volumes are declining, putting more pressure on developers, who are offering incentives like free interior decoration. Demand from owner-occupiers remains the main force in the market, and the government's push for green building policies is prompting industry transformation.

05/04 09:01

Housing Tax 2.0 New Policy: Deadline for Reporting Owner-Occupied Homes Extended to June 2, Late Submissions May Face Penalties with Higher Tax Rates

The new "Housing Tax 2.0" system, implemented on July 1, 2024, will be collected for the first time in May 2025. The new system requires that owner-occupied houses must complete household registration and declaration to qualify for a preferential tax rate of 1.2% or 1%. The original deadline for the declaration was March 24, 2025, but the Ministry of Finance extended it to June 2, 2025, to protect taxpayers' rights. Those who fail to meet the deadline will be taxed at a non-owner-occupied rate ranging from 3.2% to 4.8%. This article outlines the new system's regulations, the declaration process, and common errors to help the public avoid incurring tax losses.

05/04 06:00

Taiwan's real estate market has become a buyer's market. Experts recommend making offers based on current market prices, with different strategies for city center and suburban areas.

Taiwan's housing market has shifted to a buyer's market due to the central bank's lending restrictions, the ban on presale contract assignments, and international geopolitical and economic uncertainties. Experts suggest that homebuyers make offers based on real price registration data, referencing the lowest transaction prices in the past year for core areas, and considering the owner's costs in outer areas to negotiate for a sale at break-even or at a loss. The new luxury tax regulation affects homeowners' pricing strategies, providing buyers with room for negotiation. Existing homes have become the market focus due to their advantages in price and location.

05/01 11:02

The six major cities in Taiwan experienced a significant drop in the volume of real estate transactions in April due to stock market volatility and loan restrictions, resulting in a 26.3% decrease compared to the previous year.

In April 2025, the real estate transaction volume in Taiwan's six municipalities declined, with a total of 16,876 properties sold and transferred, down 7.3% from March and 26.3% from the same period last year, hitting a seven-year low. Tainan City experienced a 14.1% increase in transactions due to new project completions, but the overall real estate market was affected by stock market fluctuations, loan restrictions, and international political and economic uncertainties, resulting in a cooling of buyer interest. Real estate agents noted that the market is in a strong wait-and-see mode, with a lack of buyer confidence and diminished transaction activity.

04/30 06:01

Trump's tariff policies have severely impacted Taiwan's housing market: In April 2025, the transaction volumes in six major cities saw a dramatic decline, with Kaohsiung seeing a year-on-year drop of more than 50%.

In April 2025, Taiwan's real estate market was significantly impacted due to the announcement by U.S. President Trump of a new tariff policy. This policy led to fluctuations in global stock markets, and the transaction volume in Taiwan's real estate market declined in six major cities: a year-on-year decrease of 46% in Taipei City, 47% in New Taipei City, 50.9% in Taoyuan City, 28.2% in Taichung City, 38.6% in Tainan City, and 55.6% in Kaohsiung City. The chain reaction from this international economic policy profoundly affected the pace of transactions and the market atmosphere in Taiwan's real estate sector.

04/30 01:01

Taiwan's six major cities' rental index hits a 28-year high: Prime locations in Taipei and New Taipei City see annual rent increases of over 10%, creating economic pressure for renters.

In 2024, the annual growth rate of Taiwan's rental index reached 2.56%, reaching a 28-year high, indicating significant changes in the rental market. Taichung City experienced the highest rent increase of 26.47%, while prime areas in both Taipei and New Taipei City saw annual increases of over 10%. The rise in housing prices, land prices, and construction costs has driven up rents, putting economic pressure on renters, particularly on the younger generation. Government measures like the vacant home tax and rental subsidies have not effectively mitigated the rise in rents, and the supply-demand imbalance issue persists.

04/28 06:00

In 2024, the number of filings for Taiwan's unified housing and land tax rose to 134,000, with reselling properties held for 5-10 years becoming the mainstream trend.

In 2024, the number of filings for Taiwan's unified housing and land tax reached 134,000 filings, an increase of 17,000 from 2023. Due to anti-speculation measures and the seventh wave of credit controls, transaction volumes shrank rapidly in the fourth quarter, and the proportion of short-term transactions decreased. Resales of properties held for 5 to 10 years became the norm, with 36.1% of cases taxed at a 20% rate. The decline in short-term transactions is due to high tax costs and conservative bank valuations for properties resold within a year.

04/28 02:00

Beitou's New Housing Prices Soar Past One Million NT Dollars: Top-Notch Schools and Healthcare Draw in Families and Retirees

Beitou District, Taipei City, has become a real estate hotspot due to the development of the Beitou-Shilin Technology Park and convenient transportation, with new construction prices exceeding one million NTD per ping. The area boasts high-quality school districts and well-developed medical resources, attracting small families and retirees. Despite rising prices, Beitou still holds a price advantage compared to downtown Taipei, making it a popular choice for homebuyers. This article explores the reasons behind the rising prices of new constructions in Beitou, the area's advantages, and the market's response.

Beitou's New Developments Priced Over a Million Per Ping, Market Remains Hot

According to real price registration data, Beitou District will rise to the top five in Taipei City's real estate transaction transfers in 2024, with an annual growth rate of 17.6%, leading the five major hot zones. Sinyi Realty notes that new developments in Beitou are generally priced over one million per ping, with some key projects like "Qian Ju Mei" priced at 1.1 to 1.2 million per ping. This wave of price increases is mainly due to the development of the Beitou Shilin Technology Park, attracting a large number of high-tech employees, significantly boosting housing demand.

Around Beitou MRT Station, due to scarce land, new housing supply is limited and mostly consists of urban renewal projects or build-and-sell properties, further driving up the prices of new developments. Nevertheless, compared to the city center of Taipei, such as Da'an District, where prices can easily exceed 2 million per ping, Beitou still offers relatively affordable prices, making it within reach for dual-income families and retirees.

Rich Educational Resources Attract Small Families

Beitou District boasts comprehensive educational resources, from elementary to university. The area includes well-known schools such as Shipai Elementary, Shipai Junior High, Wenhua Elementary, and Wego Elementary, all of which are either fully enrolled or bilingual schools, with education quality highly recognized by parents. This makes Beitou a top choice for many small families who prioritize their children's education.

Additionally, the area around Beitou MRT Station is an educational district with a quiet and pleasant living atmosphere, suitable for raising children and family life. Zhang Yulun, manager of Sinyi Realty's Beitou Station branch, points out that Beitou's educational advantages, combined with convenient transportation and comprehensive amenities, are important considerations for small families when buying a home.

Comprehensive Medical Resources Make It a Top Choice for Retirees

In addition to educational advantages, Beitou District also has abundant medical resources. The area is home to large medical institutions such as Taipei Veterans General Hospital and Cheng Hsin General Hospital, providing comprehensive medical services. For retirees prioritizing healthcare, Beitou is undoubtedly an ideal place to live.

Moreover, Beitou itself has hot spring resources, a serene environment, and high living quality, attracting many seniors to retire here. In terms of transportation, there are multiple MRT exits around Beitou MRT Station, along with extensive bus routes, providing convenient connections to Taipei City and national highways, further enhancing residential convenience.

Mature Living Functions, Diverse Homebuyer Demographics

The area around Beitou MRT Station has mature living functions, with facilities such as Beitou Market, supermarkets, and gyms to meet daily needs. The business district has an educational atmosphere, with a comfortable environment, and is close to the medical resources of Shipai and the commercial functions of Zhishan, offering high living convenience.

Sinyi Realty points out that the area around Beitou MRT Station was developed earlier, with generally older buildings, and new developments are mostly urban renewal projects or build-and-sell properties, such as "Qian Ju Mei," which offers 24 to 47 ping, 2 to 3-bedroom products, with a floor height of 3.6 meters, only 150 meters from the MRT station, and close to Beitou Elementary, combining transportation and educational advantages. The project is priced at about 1.1 to 1.2 million per ping, and although it is high-priced, due to its excellent location and comprehensive amenities, it remains in high demand.

Affordable Prices, Manageable for Dual-Income Families

Although new developments are priced over a million per ping, the overall housing prices in Beitou remain relatively affordable. According to Sinyi Realty data, the average total price of second-hand houses in Beitou is about 20 million, while apartment products range from 20 to 30 million, which remains affordable for dual-income families.

Compared to the city center of Taipei, such as Da'an District, where prices can easily exceed 30 million, Beitou offers larger living spaces and better living quality, making it an ideal choice for many homeowners. Especially for small families and retirees who wish to balance educational, medical, and living functions, Beitou's appeal is even more evident.

Active Market Response, High Inquiry for New Projects

Driven by the development of the Beitou Shilin Technology Park, housing demand in Beitou District continues to heat up. Sinyi Realty points out that stations along the Tamsui MRT line, such as Qiyan, Beitou, and Fuxinggang, are favored by tech elites and homeowners due to convenient transportation, comprehensive amenities, and pleasant environments.

Especially around Beitou MRT Station, with mature living functions, complete educational and medical resources, and relatively affordable prices, it has become a high-inquiry area for new projects in the market. Even as the overall housing market transaction volume slows, new developments in Beitou can still maintain stable buying interest, demonstrating the strong attraction of the area itself.

References

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