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Any idea what rent costs for a 2 bedroom in downtown Taipei in a good location?
1500 USD should go a long way. 2500 USD is pretty much top of market for a typical 3 bedroom in Xinyi. (Typical is one of those rundown looking 7 story buildings with an old elevator...but the unit would be super nice and renovated inside.
Anyway, I just say this because these are the ones we have looked at for ourselves. Maybe not truly indicative of the overall market, but if we move to Taipei I'd expect us to be budgeting around $2k for a 3 bedroom.
If you plan to live in the apartment, then if you want to buy, buy. If you plan to rent it out, Taipei was one of the highest discrepancies between rental prices and buying places of any place I have ever lived. You can rent a nice place in Tapei for less than US$1,000 per month (in the city, not out in the suburbs), but you'd be hard-pressed to buy a similar sized place for less than $1,500 mortgage+taxes+insurance+management fees, plus you have to make a substantial down payment.
I don't understand the rental market at all, real-estate prices go up every year, but rents hardly change (unless the owner does some significant improvement). My rent went down ~US$40 per month last year :-/ A friend of mine has been in the same apartment for 5 years without a rental increase.
Scarcity of land. Owners are getting good appreciation, while waiting for the bulldozer and a big payday. Prime land will often have places with low rent, but in big need of renovations that aren't going to happen. Land is often worth more without the buildings.
Scarcity of land. Owners are getting good appreciation, while waiting for the bulldozer and a big payday. Prime land will often have places with low rent, but in big need of renovations that aren't going to happen. Land is often worth more without the buildings.
Kinda. But the thing is once the bulldozer comes and the new luxury places are built and sold for top dollar...some of them will be rented out for ridiculously low percentage of sale price. Point being the rent is absurdly low vs sale price, regardless of the situation you described above.
1500 USD should go a long way. 2500 USD is pretty much top of market for a typical 3 bedroom in Xinyi. (Typical is one of those rundown looking 7 story buildings with an old elevator...but the unit would be super nice and renovated inside.
Anyway, I just say this because these are the ones we have looked at for ourselves. Maybe not truly indicative of the overall market, but if we move to Taipei I'd expect us to be budgeting around $2k for a 3 bedroom.
OK Thanks. I pay 2K for a 3 bedroom in a great location in Guangzhou. Taipei for rental seems of decent value. I'd much rather live in Taipei then in GZ or most cities in Mainland China. I loved living in Shanghai, but a 3 bedroom in a good location is closer to 3k USD now per month. Some even higher then 3K.
Kinda. But the thing is once the bulldozer comes and the new luxury places are built and sold for top dollar...some of them will be rented out for ridiculously low percentage of sale price. Point being the rent is absurdly low vs sale price, regardless of the situation you described above.
Chinese investors have been known to take as little as 2.8% gross yields in better parts of Bangkok, or around 35X. Kind of makes you scratch your head, when some great utilities are paying 4%. Likely money from the Mainland being deployed in ROC, as well.
From what I'm reading here, it seems like apartments in Taipei, though expensive by Taiwan standards, are outrageously cheap compared to the U.S. East and West Coasts.
If my calculations are right, an apartment in a decent area of Taipei goes for $500 USD/square foot with property taxes of only 0.07%. THAT'S A STEAL!
Over in Silicon Valley houses built in the 1970s routinely go for $1500/square foot with property taxes of 1%. Even in places like Irvine, which are a full 60 km outside of Downtown LA, houses go for $500/square foot with property taxes of 1-1.4%.
Looks like Taipei real estate is a BARGAIN compared to even many American cities.
From what I'm reading here, it seems like apartments in Taipei, though expensive by Taiwan standards, are outrageously cheap compared to the U.S. East and West Coasts.
If my calculations are right, an apartment in a decent area of Taipei goes for $500 USD/square foot with property taxes of only 0.07%. THAT'S A STEAL!
Over in Silicon Valley houses built in the 1970s routinely go for $1500/square foot with property taxes of 1%. Even in places like Irvine, which are a full 60 km outside of Downtown LA, houses go for $500/square foot with property taxes of 1-1.4%.
Looks like Taipei real estate is a BARGAIN compared to even many American cities.
Yeah, its a bargain but your comparing prices to the most expensive markets in the U.S. haha. Taipei is a nice city, but it's old news. People are great but the economy isn't very strong and most people are either wealthy because of their businesses in China, or in other overseas areas. As an employee in Silicon Valley, you have much more opportunity to make a big salary, but not so much in Taipei, hence the RE market prices.
You also have a big "What if" in terms of looking at the future with Mainland China. As for myself, as much as I like Taiwan and the people, I wouldn't invest in a property there unless I had family there already and was looking to live there long term.
Yeah, its a bargain but your comparing prices to the most expensive markets in the U.S. haha. Taipei is a nice city, but it's old news. People are great but the economy isn't very strong and most people are either wealthy because of their businesses in China, or in other overseas areas. As an employee in Silicon Valley, you have much more opportunity to make a big salary, but not so much in Taipei, hence the RE market prices.
You also have a big "What if" in terms of looking at the future with Mainland China. As for myself, as much as I like Taiwan and the people, I wouldn't invest in a property there unless I had family there already and was looking to live there long term.
Why isn't the economy in Taiwan very strong? Is it because Taiwan doesn't have official autonomous status? Would you say that salaries and job opportunities in Taipei are worse than they are in Singapore?
This link says residential property taxes are 1.2-2% of assessed value, in ROC. https://www.globalpropertyguide.com/...axes-and-Costs. Assed values can often be somewhat lower, but I would be surprised to see a million dollar condo assessed at one tenth of fair market, especially with a recent sale on the books.
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