Date
20 October 2017
A property project in Taipei by Beijing-based developer Vantone Real Estate. The Taipei government has been criticized for not being more restrictive on mainland ownership of Taiwanese real estate. Photo: Reuters
A property project in Taipei by Beijing-based developer Vantone Real Estate. The Taipei government has been criticized for not being more restrictive on mainland ownership of Taiwanese real estate. Photo: Reuters

Fear and loathing as mainland Chinese snap up Taiwan property

Capital flows from mainland China into Taiwan are an especially emotive issue for many Taiwanese.

With mainland Chinese snapping up homes on the island, some Taiwanese feel priced out of the property market, according to Reuters.

“If mainlanders are in the market we don’t even have a chance. What if, in the end, those who live in Taiwan aren’t Taiwanese but Chinese?” said Melissa Hu, a 40-year-old public servant in Taipei. 

The Taipei government has been criticized by some for not being more restrictive on mainland ownership of Taiwanese real estate. 

A senior official of Taiwan’s interior ministry, Shih Ming-shih, said the government had imposed measures to limit Chinese from buying too many homes.

But mainland Chinese are skirting such rules.

“If people do not apply legally, there is no way we can stop that, but they have to bear the risk of losing the properties they bought,” Shih said in a warning to would-be violators.

Some property agents said loopholes that allow mainland buyers to get around restrictions make it difficult for Taiwan to take meaningful action.

“It’s impossible for the Taiwan government to fix it. The best it can do is to set up a limit on how many houses Chinese can buy each year,” said Stanley Su, research and development manager at Sinyi Realty Co in Taipei.

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RA/JL

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