VR World

Taiwan’s Taipei 101 is on The Nation’s Most Expensive Land

Taipei City Government’s Department of Land announced on Dec. 17 that the piece of land where Taipei 101 is located again defended its title as the nation’s most expensive piece of land for 2015.

Following Taipei 101, the Shinkong Building in front of the Taipei Railway Station checked in as the second most expensive. The piece of land where Shinkong is has been the most expensive land for 15 years until Taipei 101 was entitled last year.

The price for the land where Taipei 101 is US$56,800 per square meter for 2015 but it was US$50,666 for 2014. For Shinkong, it was US$50,320 per square meter for 2014 but it is US$56,188 for 2015.

“The value of the land where Taipei 101 is continues to appreciate because of the continuous development in Xinyi District, on top of the existing tourism business that has echoed the prosperity,” said Huang Jung-feng (黃榮峰), director for the department.

Huang made his remarks during a press conference at the department. In addition to the announcement of the most expensive piece of land in the nation, the department also said that the average appreciation of Taipei City’s land for this year was 10.63%.

In Taipei, land in Da-an, Sungshan and Chungshan Districts appreciated the most during the past year, due to low interest rate for mortgages, completion of public transportation projects, development of shopping malls and housing areas, and major renovation projects of old communities.

To compare with land prices for 2014 and 2015, it appreciated 12.21% in Da-an District, 12.04% in Sungshan, and 11.45% in Chungshan, the department said.