The current land value of Kaohsiung City in 2022 has risen by 2. 01% and the announced land price has risen by 1. 84%.
In general, the property transactions on the first half of the year has slowed down due to the impact of the covid-19 pandemic. In the second half-year period, the transitioning of the pandemic into a control phase plus the low interest rate and ample capitals in the market make the real estate market hot again. Moreover, many massive projects in the City have been completed this year, such as the green lanes along the Rapid Transit of Taiwan Railway and the redevelopment of the area near the Asia New Bay Area while the City Government promotes and facilitates investment s at the sub-national level to create an excellent investment environment and a quality living place. Thus, the real estate market is poised to grow at a stable pace. In the data collected from September 2 of 2020 to September 1 of 2021, there are 50,690 property transactions in the City, an 8,943 increase in transactions, growing by 21. 42% over the last quarter. Therefore, the current land value of 2022 has risen slightly.
The 2022 land price is reassessed based on the current land value of this year and the previous year, local financial needs, socio-economic conditions and the land value tax as well as the equilibrium of district land values to achieve the goal of tax equity. The consumer behavior has been reshaped in the past 2 years and traditional markets and commercial zones have been greatly affected. To reduce the above tax burden, the announced land price has been moderately reduced or remain the same. Moreover, the price of housing trading hotspots, massive projects, redevelopment area and the area of lower land value are reassessed to reflect the change of properties and equilibrium of land values in order to achieve tax equity. In non-urban areas, after the change of the land development permit is approved, the land use category will also be adjusted accordingly. Generally speaking, the 2022 announced land value has increased slightly.
According to the statistics, there are 11,146 land value districts in 2022 and the land value of 4,642 districts has grown, accounting for 41. 65% in total districts. The top 5 fastest growing districts are Nanzi District (4.08%), Qianzhen District (3.28%), Qiaotou District (3.10%), Renwu District (3.04%) and Gangshan District (2.55%). On the other hand, the land price of 2,677 districts has increased, accounting for 24. 02%. The The top 5 fastest growing districts are Renwu District (4.58%), Qiaotou District (4.47%), Nanzi District (4.20%), Gangshan District (3.68%) and Qianzhen District (3.00%). The price increase is mainly driven by high demands. The completion of massive projects and redevelopment also helped boost the price. Before the review meeting, we invite the governments of nearby cities and counties to examine the current status of the land value districts on the boundaries, districts and the price difference with a goal to achieve equilibrium of the land price.
The Director-General of Land Administration Bureau, Chen, Kuan-Fu, expresses that the 2022 land value and the land price are adjusted and reassessed to reasonably reflect the rise of the land price and improve the equilibrium of the city land price and equity. The land office employees have physically visited, inspected and collected data on the spot and used the data together with the information of actual price registration to make adjustments and reassessments. The survey results were published on January 1, 2022. The public is welcomed to visit the website of Land Administration Bureau (https://landp.kcg.gov.tw) or the land offices of Kaohsiung City for detailed information.