Friday, March 23, 2007

A big piece of real estate

The Taichung City Government's website reports here that a Hong Kong investor, Richard Li, is interested in developing the old Shuinan Airport. We heard about this on the TV news earlier (though they focused more on how a city councilwoman was trying to act as a matchmaker between Li and the mayor's daughter Hu Ting-Ting).

Shuinan Airport

The TV news was suggesting that the redevelopment might result in a rise in the cost of housing in Taichung. But the story on the website mentions some problems with the Ministry of National Defense that might slow down the redevelopment of the airport. Anyone heard anything more about this?


Anonymous said...

Clyde Said:

Feng Chia and Chiao Kwang have already been given opportunities to buy lots of land there, and I was under the impression that FCU had made big purchases of land right next to the school.

It seems like we have another bubble growing in construction. While companies delist from the Taiex and firms jump ship every day, and population numbers are in decline, somehow there is a belief that housing prices should rise.

Mmmmm. I remember being told in 1990, very seriously by numerous well educated business teachers that "You don't understand anything. In Taiwan, land prices NEVER go down, they only go up."


Jonathan Benda said...

Thanks, Clyde. As I look at all the new housing going up in my area, I wonder how the prices can manage to stay so high. Fifteen year-old apartments selling for NT$5 million. It's ridiculous.