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Luxury homes in Taipei are getting smaller. The days of buying properties over 100 ping are fading, as high-end buyers shift toward more compact units. In one major development in Zhongzheng District, 37 sales over the past three years averaged nearly NT$100 million each, but the actual living space was under 60 ping. Experts say tighter credit rules and a 30% mortgage cap are pushing wealthy buyers to reconsider and choose smaller homes.

This luxury apartment building in the heart of Taipei’s Zhongzheng District has apartments ranging from 57 to 70 ping. It has sold 37 units over the past three years, making it a favorite among wealthy buyers.

Tang Shih-ching
FTV reporter
Close to the Bo’ai Special Zone and Ministry of Economic Affairs, apartments in this safe and quiet area cost about NT$100 million. But after accounting for shared facilities and parking, the actual living space is smaller than 60 ping.

While luxury homes were traditionally large, smaller units are becoming the norm in Taipei’s high-end housing market. The top three best-selling luxury developments built within the past 10 years all have an average interior space of less than 75 ping.

The second best-selling luxury residence over 10 years old sold seven units over the past three years, with an average interior space of 75.6 ping. The shift in the market is largely driven by the Central Bank’s seventh round of selective credit controls.

Kuo Han
Real-estate research director
Because the mortgage is capped at just 30%, buyers purchasing luxury homes must provide 70% in cash. For a NT$100 million property, that means putting down NT$70 million up front, so smaller units have become a more attractive option. In addition, land in Taipei is limited. Traditional luxury apartments were mainly in Xinyi District, but now luxury developments are emerging in areas that were previously less common, such as the Dunnan area and Zhongzheng District.

Today’s wealthy buyers are less focused on purchasing large homes. Even with tighter government controls, location and scarcity remain the key factors for keeping luxury property values stable.

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