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Northern Taiwan Housing Market Slumps in August as 'JLL Index' Signals Continued Weakness
Finance · Real Estate Development · cnyes · 2026-09-03
The Northern Taiwan housing market saw a decline in August, with the 'JLL Index' falling to 33.9 points, reflecting reduced supply and sluggish buyer demand.
What Happened
Market Slump: The 'JLL Index,' a gauge for the new housing market in Northern Taiwan, fell to 33.9 points in August, maintaining a 'yellow-blue' signal indicative of market contraction. A combination of the traditional 'ghost month,' adverse weather, and summer holiday travel contributed to weak buyer sentiment.
Supply Contraction: Developers have slowed the pace of new project launches, with both pre-sale and completed housing supply declining. Pre-sale volume dropped by nearly NT$9 billion compared to the previous month, and new completed units were significantly below historical averages, reflecting a cautious approach during the off-season.
Inventory Pressure: Despite reduced new supply, the number of unsold projects remains high at 1,559. High-priced areas like Taipei and investment-heavy regions like Taoyuan are experiencing slow absorption rates, compounded by a surge in completions from 2022 building permits that continues to exert pressure on the market.
Future Outlook: Looking ahead to the September peak season, expectations for significant policy shifts from the central bank remain low. Analysts suggest that a market recovery is unlikely this year, and stakeholders may need to wait until after the elections to see if the central bank introduces any year-end policy incentives.