City Rolls out Sound Housing Market Action Plan

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City Rolls out Sound Housing Market Action Plan

City Rolls out Sound Housing Market Action Plan

Mayor Hau Lung-bin presided over a press conference unveiling the “Sound Housing Market Action Plan” on September 30. The plan seeks to realize living justice by reducing the financial burden on young people and individuals from disadvantaged groups when purchasing houses.

According to Hau, the city government will divide Taipei into four areas which will serve as a basis for a house price index with routine updates. The indicator reveals price fluctuations in the real-estate market, providing reference for those who are interested in acquiring housing.Noting that Taipei is the only municipality on the island to publish such information, Hau remarked the capital also spearheads in imposing taxes on luxury residences, a measure which helped rake in NT$600 million in revenues over the past two years. The City promises taking further steps to implement differential tax rates depending on the number of housing one owns but doesn’t dwell in, to discourage property hoarding.Hau also believes that it is the government’s responsibility to crack down on deceptive housing advertising and formulate regulations to ensure access to open information. He gave credit to Deputy Mayor Chang Chin-oh for taking the lead in helping to stabilize property market prices through coordinated actions with both the Department of Urban Development and the Department of Land.

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  • Updated: 2014-10-1 14:28
  • Reviewed: 2014-10-1 14:27
  • Source: Department of Information Technology, Taipei City Government

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