According to the Ministry of the Interior, the number of housing units sold and transferred up to July reached 164,500, a year-on-year decrease of 15%, and also a five-year low over the January to July period, per PTS.
"Homeowners have relatively little room for price concessions, so there is no way for buyers and sellers to reach a consensus on price. At present, there are some signs of buyers simply waiting on the sidelines as the number of housing visits has not decreased," said Justine Chen, head of research at Yung Ching Realty.
Additionally, the latest survey by National Central University shows that the Consumer Confidence Index (CCI) in August was 67.51, indicating the first decline after three consecutive months of gains. This index could point to a downward spiral for the real estate market, according to realtors.
Academics say negative factors such as overall economic performance, cross-strait relations, and the upcoming presidential election will shrink buying momentum over the short term.