Taiwan’s largest city is bursting with energy
Discover Taipei's Real Estate
Taiwan’s capital and its largest city, Taipei is one of the most important cities in the Asia-Pacific Region. Home to soaring skyscrapers, historic monuments and museums, and abundant natural areas, Taipei is a city with many personalities. At once busy and vibrant, and the next laidback and bucolic, Taipei appeals to residents and visitors alike with its many amenities, attractions, shops and restaurants. For real estate investors, Taipei offers plenty of potential.
Culture, History, and Business
While Taipei has long been home to the Ketagalen plains aborigines, the area saw an influx of immigration of Han Chinese during Qing Dynasty rule in the 18th century. When the island became a province of China in 1887, Taipei was made its capital. In 1895, Taiwan was annexed by the Empire of Japan, who undertook an extensive urban planning project that saw Taipei grow considerably. Following Japan’s defeat in World War II, Taiwan was returned to China. However, during the Chinese Civil War, the Chinese Communist Party took control of Mainland China, with the national government fleeing to Taiwan and declaring Taipei China’s provisional capital.
While the legal status of Taiwan’s sovereignty has remained in limbo since the end of the Chinese Civil War, Taipei has managed to grow into one of the region’s most important economic centers. During the so-called Taiwan Miracle of the 1960s, the economy boomed and Taipei is now home to most of Taiwan’s corporate headquarters as well as important branches of international companies. It is especially strong in the business, financial and technology sectors and has a growing tourism sector.
Real Estate Appeal
Taipei has some of the most expensive real estate in the world, the result of a dramatic property boom that occurred in the wake of the 2008-2009 Financial Crisis. While prices have since stabilized, they remain extremely high. That being said, real estate values continue to appreciate due to a number of factors.
Being surrounded by mountains, Taipei has little room to grow, which keeps housing inventory low and boosts prices. Furthermore, there is an extremely strong tradition of home ownership in Taiwan, with the vast majority of the population considering property ownership essential for financial stability. The result for investors is that even with real estate prices high, there is nonetheless very healthy demand for homes. This makes Taiwan an especially promising option for real estate investors who are considering a long-term investment strategy in a city with a stable economy.
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