Taiwanese eyeing overseas property investment
Taiwanese are increasingly showing interest in overseas property due to high returns and perceptions of less risk, according to the latest survey from Chinatrust Real Estate.
As reported on the Focus Taiwan News Channel website, 36.5 per cent of the survey respondents expressed their interset in buying houses or land in other countries, some 2.7 per cent of which had already made purchases. Among the respondents, 9.2 per cent were just gathering information, while 24.6 per cent were still under consideration.
According to Chinatrust Real Estates special assistant to the chairman Hu Pei- lan, Taiwans signing of the Economic Cooperation Framework Agreement with China, and the establishment of direct flights between Taipei citys Songshan airport and Tokyo and Shanghai last year, helped boost the willingness of local people to buy property overseas.
China was the top choice for 57.6 per cent of the people with interest in foreign property. Japan came in second at 28.7 per cent, while 20.8 per cent of the respondents were eyeing to buy property in the South East Asian countries including Singapore, Vietnam, and Indonesia.
“Judging from the findings, it is clear that geographic proximity and cultural affinity are the prime factors behind Taiwanese peoples preference for China and Japan,” said Mr. Hu.
In addition, the US and Canada attracted 17.4 per cent of the potential buyers, ahead of those who chose Hong Kong (10.3 per cent), South Korea (7.4 per cent) and European countries such as Britain and France (4.9 per cent).