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$2,819.73 per sq ft August 9, 2013

Posted by hslu in Life, Death and Yuanfen, Taiwan.
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According to a news report on money.udn.com today (8/9/2013,) it is only a matter of time that one of a most expensive condos in Taipei will command an asking price of $3,000,000 新台币 per 坪。I made a slide using the information included in the report and added an example of such a condo for this post. 

At current exchange rate of 29.899795 NTD/USD, the soon-to-be asking price for 皇翔御琚 will be $100,335.14 (USD) per 坪.

Now, one 坪 is equal to 35.5832 sq ft.

When, not if, this extravagant unit price becomes a reality, you will have to pay $2,819.73/sq ft for a condo in one of the busiest sections of Taipei.

皇翔御琚 is located at 忠孝東路5段236巷 in the 信義 district of Taipei.

NTD 3,000,000 per 坪 condo for sale 皇翔御琚

NTD 3,000,000 per 坪 condo for sale 皇翔御琚

If you are looking for a river, it is a few miles to the west. Ocean is about an hour drive to the north. A small, about 1.8 acres, park is a few blocks away although you have to be on the right side of the building to see it though. A high school and an elementary school are about 200 feet away. You won’t miss them because students walk by all the time. The view can be spectacular if you like buildings after buildings on each side and some small mountains to the north.  101 is a few blocks away though if you like very, very tall building.

If you have money, you can have a 6,760 sq ft condo for 570,000,000 NTD. The larger unit, about 10,319 sq ft, will cost you a cool 1,035,000,000 NTD; that’s $19 million and $29 million, respectively. Penthouse will cost you even more.

Many rich Taiwanese businessmen who have made tons of money from their plants and operations in China bought condos like this for couple of reasons: status and flipping. It appears that condo prices in selected areas in Taipei will continue to go up. Real estate prices in the rest of Taiwan are either stagnant or trending downward because of slow economic growth in the rest of Taiwan. 

This not-too-unique-phenomenon in Taipei epidermises what is commonly referred-to as “穷者越穷,富者越富.“ For new college graduates in Taiwan who struggle to make ends meet with their puny 20,000 NTD per month salary, this is an explosive issue facing  马英九 and the ruling 国民党. Many new regulations have been put in place but the condo prices kept going up and up to levels out of reach by 99,9990% of the people in Taiwan. 

A few years ago, my son spent about 15 months in Taipei. He lived at a rented condo near 忠孝复兴 (subway station) about 3 subway stations away from 皇翔御琚. When we visited him in Taipei, I was completely taken aback by the exuberant condo prices in Taipei. Many small condos, around 1,800 sq ft, were asking for $1.5 million USD. I said to my wife that there was no way that we could afford a condo in this area. Since then, we have been back there a few times but the asking prices of newer condos just kept going up and up to unbelievable levels.

May be we can afford a small, one-story house somewhere at the foot of a small mountain in the middle section of Taiwan. The wooden house may be situated in the back of a small plot of land which matches what Feng shui calls:

“左青龙,右白虎,前朱雀,后玄武”

A small creek flows by to the east; a winding country road to the west; an open space, preferably with a good size fish pond, in front of the plot and lastly a hill or a small mountain in the back.

We could catch a fish or two in the pond, plant vegetables and a few fruit tress to the west of the house and watch sunset in the mountain when we have nothing better to do. A mid-size city with 高铁 connection may be half an hour away by bus. A dog runs around by itself but we’ll have no chicken or pig. They would be too time-consuming to take care of. TV is not necessary but wifi or Internet connection is a must. Too bad, Taiwan has no snow in the winter otherwise we could just watch snow falling while sipping a cup of tea or coffee together. 

NTD 3,000,000 per ping condo for sale - a house in the country 1

It sounds pretty good and it sure beats running a restaurant for living, doesn’t it!

Well, it doesn’t hurt if we dream a little! We only have one life to live and time waits for no one.

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