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▲The 13-year-old luxury house “Qinmei Puzhen” in Da’an District, Taipei, in July last year (2023), the real price revealed that the monthly rent for the 24th floor unit was 600,000 yuan, setting a record for the most expensive rental of a luxury house since the real price was registered. (Picture/photo taken from Facebook_Huang Jiehong)
[NOWnews今日新聞] The unit price of a luxury home in Taipei is around 2 million yuan per square foot, and the rent is also higher than ordinary people imagine! Real estate agents compiled the latest list of the top five luxury rental properties in Taipei. The 24th floor of the 13-year-old mansion “Qinmei Puzhen” in Da’an District topped the list of luxury rental properties with a monthly rent of NT$600,000. Calculating that a tenant spends 7.2 million yuan on renting a house every year, he can buy two houses in the Jin District. Why would he rather rent than buy? Expert analysis has 2 advantages.
According to the Taipei City Land Cloud Information, the top 5 rental prices for luxury homes in Taipei in 2023 are: Qinmei Puzhen, with a sky-high rent of 600,000, which is the highest rental price in recent years, followed closely by Wenhua Garden, with a rent of 525,000, and Huagu Tian The monthly rent is RMB 450,000, ranking third, followed by Shin Kong Jiashi Castle with RMB 400,000 and Gome Building with RMB 350,000. If we assume that the average transaction price per square meter of Qinmei Puzhen is 1.88 million yuan, the monthly rent of 212 square meters of property is 600,000 yuan, and the investment rate is only about 1.8%.
As for the luxury rental king in Taipei in the past four years, Xihua Fubon retained the title in 2020 and 2021 with NT$500,000 and NT$472,500 respectively. In 2022, the champion will be replaced by Renai Dibao, with a monthly rent of NT$460,000. The latest luxury house in 2023 The rental king will be replaced by Qin Meipuzhen.
▲Top 5 rental prices in Taipei City in 2023 and changes in Taipei City’s luxury rental champions in recent years. (Photo/Provided by Sumishou Real Estate)
The luxury housing market is stagnant, and leasing is creating bleeding opportunities
Xu Jiaxin, executive director of Jushou Real Estate Planning and Research Office, pointed out that luxury homes have become a box office poison due to heavy government controls. The market supply has been low in recent years, but large square meters are still in demand. Many medieval luxury homes are favored by high-end tenants because of their superior locations and relatively large square footage.
Xu Jiaxin pointed out that the luxury homes on the list in 2023 include both new and old ones, and their locations are not limited to luxury areas such as Da’an, Xinyi, Zhongshan, and Songshan. This shows the diversity of demand from luxury tenants. In the past two years, whether it was Wang Renai Dibao’s rent last year or Wang Qinmei Puzhen’s rent this year, although the house is old, its management is on track because of its superior location. Facing Da’an Forest Park, Qinmei Puzhen wrote down 600,000 yuan. The sky-high rents show that old mansions are still in demand as long as they are in a good location.
As for why the rents of luxury homes are constantly rising, the main reason to blame is that in addition to inflation driving up the rental market, the key is that in recent years, due to the heavy policy restrictions on luxury homes, builders are no longer willing to build large-square-meter products. The supply has decreased, and the holders have been trapped in a search. Without the buyer’s dilemma, old luxury homes would become idle assets. Fortunately, there is still demand for large-square-foot products in the market, and luxury rentals have become a new path.
Luxury rental reports are poor, the owner’s mentality is very important
Xu Jiaxin pointed out that although rents are rising, it is also true that the rental rate for luxury properties is low. In addition, many of the people who can rent such high-priced properties are companies, which inevitably require them to declare tax burdens. The cost for landlords is relatively high. Many property owners in the market rent out their properties not to earn income.The more mentality is that someone will take care of the house and subsidize the management fees and related taxes.which has also become a special scenery in the rental market.
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