Accommodation and Real Estate in Taiwan

admin November 18, 2014 0

Taiwan is officially ruled by the Republic of China. Its capital, Taipei, lies in Northern Taiwan and is the country’s center for commerce and culture. It is home to the fourth largest skyscraper in the world – Taipei 101.

Housing in Taipei is considered to be among the costliest in the world. Costs have doubled between 2008 and 2014.

Accommodation in Taiwan (All prices are in USD)

apartments in Taiwan

Living in the city center of Taipei is more expensive than living in the suburbs. This is because the city is compact and you can easily get your supplies, no matter where you live. However, if you are looking for something more affordable, the peripheral areas of Taipei should answer.

Costs in the city center

  • An apartment with 1 bedroom will cost US$579.45 per month.
  • An apartment with 3 bedrooms will cost US$1,381.87 per month.

Outside the city center,

  • An apartment with 1 bedroom will cost US$391.31 per month.
  • An apartment with 3 bedrooms will cost US$738.36 per month.

Kinds of apartments are available in Taiwan

  • The studio apartment is the most common type of apartment found.
  • Larger apartments are usually shared by families, since the rent is higher.
  • There are no houses or townhouses that can be rented.
  • Floor space is measured in “pings,” where 1 ping equals 3.3 square meters.
  • People from Western countries may find Taiwanese apartments very small, with little outdoor space.
  • Apartment blocks usually have stairs instead of elevators. Only the most luxurious buildings have elevators installed.

What to expect inside the apartments

Apartments may be furnished or unfurnished. Landlords expect some negotiation to happen, so you can bargain over the prices of the appliances to be included in the flat.

  • Since Taiwanese summers are quite hot, most apartments have air conditioners.
  • Central heating is rarely found.
  • Indoor swimming pools and gyms may be available, but they are very expensive.
  • Kitchens will have a dual gas-cook top stove, a dish sanitizer, and a refrigerator. Full range appliances or stoves are rare.

Standard renting practices in Taiwan

  • A security deposit amounting to 2 months’ rent will be charged.
  • You will need to pay the first month’s rent before you take possession of the apartment.
  • The starting date of the lease agreement is the day you move into the apartment.
  • Your rent is charged every month on the same date until the end of the lease.
  • Your deposit is returned after the lease ends, but a certain amount is subtracted as damages or outstanding utility fees.

Hotel accommodation in Taiwan

Hotel accommodation in Taiwan

Hotel prices are 47.91% less expensive as compared to those in New York City.

  • If you’re looking to live for a few days in luxury, 5-star hotels will charge you anything between US$108.12 and US$261.77.
  • Three-star hotels may cost anywhere between US$22.78 and US$81.96.
  • If you’re scouting the area to look for good, permanent accommodation and want to bunk at cheaper hotels in the meantime, 2-star hotels will cost between US$20.08 and US$31.31.

Real estate in Taiwan

Real estate in Taiwa

People do not usually buy property in Taiwan due to the exorbitant prices, but it is possible to do so.

In Taipei,

  • Apartments in the city center can cost up to US$10,344.77 per square meter.
  • Apartments outside the city center command up to US$4,908.82 per square meter.

The following criteria should be satisfied before you buy property:

  • You should have an Alien Registration Card (ARC).
  • Your country should be in the list of qualifying countries for the reciprocity rule i.e. Taiwanese nationals should be able to buy property in your country.
  • You should have received an approval from the Ministry of Economic Affairs.
  • You should be buying the property for investment purposes or personal use only.
  • You should not already own or co-own another property in Taiwan.

It is recommended that you take your time and look around carefully before you decide on renting a place in Taiwan or even buying some property. It may be good to live in the heart of the city, but it is also very congested and consequently, slower to get around.

If you do not know Mandarin, it may be a good idea to hire an English-speaking agent for yourself. Of course, you will have to pay him some commission, which is usually a month’s rent.

Happy house hunting!

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