tag:blogger.com,1999:blog-10698887.post4777064272785468755..comments2023-10-22T18:25:39.688+08:00Comments on The View from Taiwan: Bubbling Taipei: the world's most expensive cabbagesMichael Turtonhttp://www.blogger.com/profile/17974403961870976346noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-10698887.post-70247299581341889652010-02-11T18:28:26.194+08:002010-02-11T18:28:26.194+08:00If you buy and rent your house to somebody it shou...If you buy and rent your house to somebody it should be paid of within 20years.<br /><br />buying price NT$5000000.- /12 = NT$416666.- per year /20 = NT$20833.- rent per month.<br /><br />The average income here in kaoshiung is NT$20 000.- to NT$25 000.-. Who can pay you 20 000.- per month for renting your appartment ? Average people pay a max. of NT$10 000.- for an apartment in Kaoshiung. That means you would get paid the real estate in 40 years.<br />Unemployment Rate about 20% :-). As I arived in Taiwan 4 years ago the exchange was 1 Euro/38 NT now its 1 Euro / 48NT. Do you know whats the NT is worth in 40 years ? Inflation because of money printing, check your wallets how many new printed coins you have inside. And by the way Chinatrust is an american bank, chairman is Robert DeNoma from KKR Gangsta Group in New York.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-10698887.post-64828224927309811422009-12-07T13:28:35.686+08:002009-12-07T13:28:35.686+08:00Michael, remember the guy practicing his golf shot...Michael, remember the guy practicing his golf shots in the vegetable patch near the Taipei Artists' Village? We passed him back in March on the way to supper. <br />One other problem--not that it has stopped speculative developers in places like Las Vegas--water??!!Joel Haashttps://www.blogger.com/profile/14285867748520347926noreply@blogger.comtag:blogger.com,1999:blog-10698887.post-1017190925027446042009-12-07T10:16:08.526+08:002009-12-07T10:16:08.526+08:00Unfortunately, flash-bubbles are common in mainlan...Unfortunately, flash-bubbles are common in mainland China. Just look at the land next to the future SH Disneyland site, selling for four times the unit-area price it was at before the announcement of approval to build.<br /><br />A lot of property news is also exaggerated, adding some complexity to the idea of short-term bubbles. Developers hope to cash in on speculators, so they sweeten the deal if someone agrees to an astronomical unit-area price for a flat. That number gets onto the local headlines in, say, Hong Kong, while the actual deal involves heavy discounts on additional units for the same buyer and will never see the light of day. Sensationalism also comes in, as rumours flew around HK about a mainland buyer snapping up the 39 Conduit Rd. 88/F penthouse, but it turned out to be a local guy.channinghttps://www.blogger.com/profile/06386334271601532591noreply@blogger.comtag:blogger.com,1999:blog-10698887.post-21984761182770824112009-12-06T12:46:41.453+08:002009-12-06T12:46:41.453+08:00I wonder how profitable their land really is...
T...I wonder how profitable their land really is...<br /><br />Think of the property tax they must be paying!Marcnoreply@blogger.comtag:blogger.com,1999:blog-10698887.post-34182916568968632202009-12-06T12:04:53.825+08:002009-12-06T12:04:53.825+08:00Ah, yes, cabbage guy. You've never seen him b...Ah, yes, cabbage guy. You've never seen him before? He's famous in Taipei among anyone who lives/works/frequently goes to Xinyi. Mad respect for that dude. I hope they never sell that farm and allow it to be developed.<br /><br />What I'd like to see instead is a larger effort to rehabilitate, renovate or tear down/rebuild all of the abandoned buildings and properties that dot Taipei. I'd like to see the old Japanese buildings renovated and sold, the hideous abandoned concrete hulks renovated or torn down and re-inhabited etc. It would put a dent in the downtown Taipei housing problem, anyway. (The same is true in the Washington DC area - probably in a lot of urban areas.)<br /><br />I should note that as a couple who earns salaries similar to that of mid-level professionals in Taipei, we can afford to live in the city, practically next to an MRT station, and with plenty of pings for 2 people. If we were to have a kid (HAH!) we could afford a larger apartment. Many of our neighbors earn less than we do (I know this because all the old grandmas make it their business). So while I feel for the plight of lower-income people - many of whom are young office drones who live with mama and baba out of tradition as much as economic necessity - who are being pushed farther and farther from Taipei city, middle class folks are still not in such dire straits.<br /><br />This is a worldwide problem by the way - DC has effectively kicked out the middle class and only kept the lower class in some very bad neighborhoods. New York has dealt with a housing problem for some time, don't even get me started n Bombay...Jenna Lynn Codyhttps://www.blogger.com/profile/04032277820150000198noreply@blogger.comtag:blogger.com,1999:blog-10698887.post-1323534727861277322009-12-06T09:40:28.567+08:002009-12-06T09:40:28.567+08:00Pretty lame "industrial-construction state&qu...Pretty lame "industrial-construction state" that can't even force a couple of peasants off one of the most valuable plots of undeveloped land in the world.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-10698887.post-53242090007127252162009-12-06T05:15:56.330+08:002009-12-06T05:15:56.330+08:00if they sell their land for $150 million, i'm ...if they sell their land for $150 million, i'm sure they will be able to continue living in taipei. :)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-10698887.post-30393310048006956572009-12-05T23:51:34.206+08:002009-12-05T23:51:34.206+08:00"Much will depend on how willing the governme..."Much will depend on how willing the government is to defend the locals from the effects of speculative investment flows, which in turn depends on how active and strong Taiwan's democracy is, and how well the citizenry uses it to defend its interests."<br /><br />Really? It is not hard to fool general populists like "Joe the Plumber" to believe and vote for something bad for them.<br /><br />If you really think property value is going up, why not buy a house and live in it instead of renting. Now, your so call new world order is not really "new." It is actually "old." The society simply are recalibrating into more pyramidal shape with people and families who are more capable at accumulating wealth than others. There is not way to avoid that because if there are winners than there are losers. You just have to make sure that you are on the winning side. Unfortunately, if you told "peasants" that, they will never get it.Artynoreply@blogger.com