Residential Real Estate - Taiwan | Statista Market Forecast

The Residential Real Estate market market in Taiwan is expected to reach a value of US$3.44tn in 2024.
This market segment is projected to grow at an annual growth rate (CAGR 2024-2029) of 0.62%, leading to a market volume of US$3.54tn by 2029.
When comparing the global market, it is worth noting that China is anticipated to generate the highest Real Estate value, with US$112.9tn in 2024.
The residential real estate market in Taiwan is experiencing a surge in demand due to the government's efforts to attract foreign investors.

Definition:

The residential real estate market covers the leases and transactions of residential properties. Residential real estate leases refer to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums, while residential real can be defined as buying, selling, or transfer of ownership of residential properties.

Structure:

The residential real estate market covers real estate transactions and leases, and the section, residential real estate leases, is divided into apartment and house leases.

Additional information:

The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and for real estate renters as well.

Residential real estate transactions
Residential real estate leases

Real estate agencies
Construction companies
Accommodation services, such as Airbnb
Commercial real estate leases and transactions
Publicly owned buildings used by the local government
Buildings used for public health care services

The Residential Real Estate market in Taiwan has been experiencing significant growth and development in recent years.

Customer preferences: The preferences of customers in the Residential Real Estate market in Taiwan have been shifting towards more modern and luxurious properties. There is a growing demand for high-end apartments and houses with state-of-the-art amenities and facilities. Customers are also increasingly looking for properties that are located in convenient and desirable neighborhoods, with access to good schools, shopping centers, and transportation options. Additionally, there is a growing interest in environmentally-friendly and sustainable properties, as customers become more conscious of the impact of their housing choices on the environment.

Trends in the market: One of the key trends in the Residential Real Estate market in Taiwan is the increasing popularity of mixed-use developments. These developments combine residential, commercial, and retail spaces in a single complex, creating a vibrant and self-contained community. This trend is driven by the desire for convenience and a desire to live in a more integrated and connected environment. Mixed-use developments often include amenities such as gyms, swimming pools, and communal spaces, which further enhance their appeal to customers. Another trend in the market is the rise of smart homes. With advancements in technology, customers are increasingly interested in properties that are equipped with smart home systems, allowing them to control various aspects of their home, such as lighting, temperature, and security, through their smartphones or other devices. Smart homes offer convenience, energy efficiency, and enhanced security, making them highly desirable among customers.

Local special circumstances: One of the unique characteristics of the Residential Real Estate market in Taiwan is the limited availability of land. Taiwan is a small island with a high population density, which has led to a scarcity of land for development. This scarcity of land has driven up property prices, making real estate in Taiwan relatively expensive compared to other countries in the region. As a result, customers in Taiwan are often willing to pay a premium for properties that meet their preferences and requirements.

Underlying macroeconomic factors: The growth and development of the Residential Real Estate market in Taiwan can be attributed to several underlying macroeconomic factors. Taiwan has a strong and stable economy, with a high GDP per capita and a low unemployment rate. This has increased the purchasing power of customers and their ability to afford properties in the market. Additionally, low interest rates and favorable mortgage conditions have made it easier for customers to access financing for their property purchases. The government has also implemented policies to support the real estate market, such as tax incentives for homebuyers and measures to encourage foreign investment in the sector. These factors have contributed to the growth and development of the Residential Real Estate market in Taiwan.

Data coverage:

Figures are based on total and average value of residential real estate, residential estate transactions and leases.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.

Additional Notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

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Residential Real Estate - Taiwan

Value

Volume

Analyst Opinion

Transaction Value

Revenue

Household Type

Real Estate Type

Living Space

Methodology

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