Fewer buildings being constructed as property market cools

2017/03/17 22:43:56 fontsize-small fontsize-default fontsize-big
(CNA file photo)

(CNA file photo)

Taipei, March 17 (CNA) With Taiwan's property market cooling, there has been a fall in the number of new buildings being built, according to government statistics released on Friday.

In 2016, the government issued licenses for buildings with a total floor area of 26.24 million square meters, down 19.5 percent from the previous year, marking the third consecutive annual fall, the Directorate General of Budget, Accounting and Statistics (DGBAS) said.

Of those buildings, 16.83 million square meters, or 64.2 percent, were located in the six municipalities of Taipei, New Taipei, Taoyuan, Taichung, Tainan and Kaohsiung, the DGBAS said.

While residential buildings accounted for 50.6 percent of total floor area, industrial/warehouse buildings accounted for 21.3 percent, it added.

Office/service buildings and business buildings accounted for 5.6 percent and 4 percent, respectively, according to the DGBAS.

(By Chen Cheng-wei and Y.F. Low)

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