Taiwan president saddled with world's worst property market

Taipei

TAIWAN'S home prices, which have fallen in the past year ending a decade-long bull run, are poised to extend declines as the economy contracts and a new presidential administration focuses on equitable wealth distribution.

Home values in Taiwan have dropped 1.2 per cent and transactions have declined 15.5 per cent since the first quarter of 2015, according to data from the Interior Ministry. The capital Taipei was the world's worst property market in the year ended March, among major cities tracked by Knight Frank LLP.