Tuesday, December 23rd, 2014

Taiwan Real Estate

Welcome to Taiwan Real Estate!

Taiwan Real EstateTaiwan is the largest island in  the Republic of China, and separated by the 180 kilometer Taiwan Strait.  Taiwan is southwest of Japan and lies to the north of the Philippines.

Taipei Real Estate

Taiwan’s capital is Taipei whose metropolitan area contains approximately 6.8 million people. Those expatriates (expats) that may be interested in purchasing Taiwan real estate are allowed providing they follow a few guidelines. Foreigners (companies & individuals both) first must receive government approval by registering with the Ministry of Economic Affairs (referred to as “MOEA”) (and there must be a reciprocal agreement that allows Taiwan nationals to invest that person’s home country). One additional provision is that Taiwan real estate may only be purchased for investment, personal use, and/or social welfare purposes.

Anyone that is desiring to purchase a Taiwan home is expected to register with the local Land Registration Office any change in ownership of the property. This registration certificate contains the date of transfer, the property size as well as the owner of the land & building(s) contained on it, as well as any liens/mortgages (if any) against the home. This registration is usually handled by a land notary, and takes approximately 1 day to change the property title after application has been made. Prospective Taiwan home purchasers can expect the entire process to take approximately 5 days for those 3 requirements to me completed.

Other major Taiwan cities include:

Keelung (Chilung)

Taiwan Homes

Anyone searching for Taiwan homes for sale should be aware that there are several other customary costs associated with a home purchase including deed tax due at the time of the real estate transfer, stamp duty (0.1% of contract value), registration fee (0.1% of official assessment of land value), legal fee (0.1% of official assessment of land value), legal attorney fee (varies but generally around TWD5,000), Taiwan real estate agents fee (can not exceed 6% of the purchase price for any single real estate transaction – with it being customary that the purchaser pay 1% to 2%, and the seller pays the balance of 3% to 4%), and notarization fees (which vary based upon purchase price).

Taiwan Homes