 2013-03-25 |
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Reporter Hsuan-Yi Peng / Taipei Report YC Group is targeting first-time homebuyers with its real estate projects this year. Wangchou Construction plans to launch a project in Linkou in the second quarter with a total sales value exceeding NT$5 billion, named "Wangchou Premium." In the second half of the year, they will introduce a project in the Xinzhuang sub-city redevelopment area, suitable for first-time buyers, with units ranging from 20 to 30 ping (a unit of area) and total prices just above NT$10 million, offering a total of 100 units.
In recent years, Wangchou Construction has seen success in acquiring land and launching residential projects in Greater Taipei. Last year, they introduced the "Forest Tree" luxury residential project in Linkou, with a total sales value of NT$5 billion, the largest scale ever. They are also considering entering the Chinese real estate market during its downturn, with a goal to launch NT$5 billion worth of projects annually.
YC Group President Li Chih-Hsien noted that since the beginning of the year before last, the real estate market has been stagnant due to external economic issues in Europe and the U.S., as well as internal effects of luxury taxes. However, land costs for developers are high and they have deep pockets (developers' profits over the past six years have exceeded the total of the previous 30 years), so prices have not adjusted as much as expected.
As concerns over the European debt crisis have diminished, the U.S. economy continues to improve, and the public has gradually accepted and adapted to measures such as luxury taxes and real transaction price registrations, the worst of Taiwan's real estate market downturn is considered to be over.
In light of this, Wangchou Construction plans to launch two pre-sale projects this year in Linkou and Xinzhuang. The Linkou project, "Wangchou Premium," will offer 200 units with a total sales value of over NT$5 billion. In the second half of the year, they will launch a project in the Xinzhuang sub-city redevelopment area suitable for first-time buyers.
YC Group holds over 1,800 ping of land in the Neihu Phase 5 Tanmei Section, with 738 ping already sold, leaving nearly 1,100 ping for constructing their operating headquarters. Additionally, Wangchou Construction has two plots totaling 1,300 ping in Xinzhuang’s sub-city, which will offer both small and large units. The 700 ping of land in Linkou will be further consolidated into 1,000 ping for luxury residential development. |
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