Taipei. Sept. 14 (CNA) The number of people who think property prices will rise in the coming year is twice that of those who think they will fall, according to the results of a poll released Saturday. Huang Shu-wei, a research manager at Yungching Real Estate Agency, said that 56 percent of those polled said property prices will rise compared with 28 percent who said they will fall. Asked when would be the best time to buy property, up to 49 percent said that the next six months will not be a good time to buy property. "This shows that the effect of a QE exit and a planned revision of the luxury tax has subsided, and potential buyers are remaining on the sidelines," Huang said, adding that high property prices are key deciding factors on whether people will buy property. The survey results also show that real estate is considered the most suitable investment, for the seventh consecutive quarter. Taiwan imposed a luxury tax in June 2011 that levys a tax on properties bought as investments that are sold within two years of purchase.
The survey was conducted among 200,000 of the agency's clients between Aug. 12-26. A total of 734 effective samples were collected with a margin of error of plus or minus 3.62 percentage points. (By Wu Chia-ying and Lilian Wu)