Taiwan’s top builder says it raises the price of new homes by 30-40% | Taiwan news

TAIPEI (Taiwan News) – To reflect the rising cost of purchasing land and building materials, Taiwan’s top builder Pau Jar Group (寶 佳 機構) is set to raise its housing prices by 30% to 40%, depending on the location.

In addition to the rising cost of construction, the developer told UDN that it carefully weighed the strong demand in the housing market and the expected rise in inflation over the next two years when it made the decision.

Pau Jar Group is believed to own over 70 construction companies nationwide, including Delpha, which is reportedly preparing for the price increase. The group builds an average of 15,000 to 20,000 new homes each year, making it the country’s largest property developer.

Cheng Shi-chung (鄭思聰), chairman of Pau Jar-owned Huang Chien Construction Co. (華 建), told the UDN that local developers expect that the active low interest rates, the flood of hot money and the continued inflation will continue to fuel the home buying frenzy. Against this background, the company will have to raise unit prices to reflect the rising costs of staying financially sound.

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