Most Expensive Home in Taipei Priced at $23 Million

One of Asia’s most exclusive residential addresses, Taipei’s Royal Castle residential complex apartment, revealed its much anticipated apartment prices, with the costliest among them fetching a record $2,745 per square meter , $23 million in total. The highly anticipated realty prices were finally made public by the Huang Hsiang Construction Group, the realtors behind some of the biggest real-estate deals in Taiwan. The real-estate rates in Taipei had not been updated for some time resulting in skepticism by willing buyers both foreign and domestic. However, the Taipei city council finally updated its rates for property acquisitions in prominent districts of the city with the outcome that the Xinyi District topping the list of housing majority of the country’s luxury homes.

The district is the proud host the top three residential complexes in Taipei namely the Royal Castle, The Xinyi Star and The Wenhua Garden with total buying prices among the five most expensive homes in Taipei. The prices of the mansions are $18.345 million, $13 million and $11.45 million, individually for the three properties respectively.

By unit area measurements, the priciest dwellings in Taipei include the Chateau Crystal, The Royal Castle and Xinyi Star, with prices being $24275, $27624.75 and $ 19420.70 per square meter. The $23.34 million home is a semi-detached penthouse on the sixth floor of the Royal Castle with a total floor space of 800 square feet, excluding the floor space allocated for four distinct parking slots. Another penthouse situated on the 4th floor of the same apartment complex also reached a record selling price of $17.04 million, as  $ 29000 per square meter. The home is one among a select few realties crossing over the $200000 mark per square meter in Taipei, after the true-contract price listing system was affected last July.

Taiwan is familiar with selling  prices of properties that are priced upwards of $ 1.3 million are dubbed upscale and are taxed separately. In spite of the sluggish economic growth and cautioned foreign investments into the country, there were still more than 900 high-end property deals reported in the Taiwanese realty markets in the last fiscal, of which 500 belonged to Taipei alone.

Source: Bornrich