Taiwan housing price growth is now the fourth-highest in world
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Loading... - Mei Takehiko
- 14 Oct 2024
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Taiwan has recorded the fourth-highest growth in housing prices worldwide, according to Knight Frank’s Global House Price Index for the second quarter of 2024. The report indicates that Taiwan’s housing prices increased by 11.9% over the 12 months leading up to June 2024, placing it among the top five nations with the sharpest annual gains. Additionally, home prices in Taiwan rose by 3.6% in the second quarter alone and showed a 7.2% rise across the first half of the year.
Global Rankings of Annual Housing Price Growth
The countries with the highest year-over-year increases in housing prices were:
Turkey – 46.4%
Poland – 18%
Bulgaria – 15.1%
Taiwan – 11.9%
North Macedonia – 11.5%
Countries such as Colombia (10.9%), New Zealand (9.8%), Mexico (9.4%), Greece (9.2%), and Croatia (9.1%) also reported substantial growth.
Markets with the Steepest Declines
On the flip side, several markets experienced significant housing price drops, with:
Hong Kong – -12.7%
Luxembourg – -10.9%
Jersey Island – -9%
Finland – -6.8%
China – -5.2%
Global Trends
Knight Frank noted that 74% of the markets surveyed saw price increases in the second quarter, marking the highest such figure in two years. It added that many countries are now moving toward interest rate cuts, which may stimulate further housing price growth, though policy intervention may be needed to prevent market overheating.
The report also highlights that increasing housing supply is becoming a key focus for many governments to curb the rapid rise in home prices. Globally, the average house price growth across 56 markets was 3.3% over the 12-month period.
This trend reflects Taiwan’s continuing property market boom despite economic challenges, fueled by strong demand, limited supply, and potentially lower future interest rates.
