Nationwide Near Flat, Owner-Occupier Support Unchanged
Sinyi Realty released its Q3 2026 home price index, with the nationwide index down 0.07% QoQ and down 0.05% YoY, broadly near flat. Sinyi Realty project manager Zeng Jingde observed that transaction volume has not yet expanded significantly, with the market in a consolidation pattern of "a lid on top and an iron plate below." Prices in some areas have shown signs of stabilizing, but new-home market transactions remain persistently low, indicating the market is still dominated by owner-occupiers with prices and volume trending flat.
Zeng Jingde said market conditions in the third quarter were similar to the second quarter, with regional trends remaining divergent. Absent other external events, the overall housing market is expected to remain led by owner-occupier demand, maintaining relatively stable prices and volume. Judging from the Q3 index, nationwide prices were near flat, but transaction volume has not expanded, and whether home prices have stopped falling across the board still needs to be observed by district.
Taoyuan and Kaohsiung Both Turn Positive, Taichung's Decline Narrows for Three Consecutive Quarters
In Q3, Taoyuan's home price index was 192.27, up 3.11% QoQ and up 3.15% YoY, with both QoQ and YoY changes turning from negative to positive, gradually emerging from the prior sliding trend. The YoY gain was also the highest among the seven observed areas including the six metros and Hsinchu. However, Taoyuan has relatively large new supply, with some supply concentrated in rezoning areas, limiting further upward price momentum, and the market is expected to remain dominated by owner-occupier demand.
Kaohsiung's Q3 home price index was 173.24, up 2.53% QoQ and up 1% YoY, also turning positive both QoQ and YoY, with short-term prices showing signs of breaking out of consolidation declines. However, overall market transaction volume has not yet expanded, and it remains to be seen whether demand can continue. Taichung's Q3 home price index was 185.68, up 1.11% QoQ and down 1.30% YoY, with the YoY decline narrowing for three consecutive quarters. Prices have a chance to gradually stabilize, but still need time to digest the earlier run-up.
Taipei and New Taipei Bottoming at Different Paces, Tainan and Hsinchu Remain Weak
Home prices in Taipei and New Taipei showed different quarterly trends, with Taipei's Q3 home price index at 143.55, up 1.48% YoY but down 0.64% from Q2; New Taipei's index at 162.35, up 2.64% QoQ and up 1.04% YoY. Zeng Jingde believes the Taipei-New Taipei market has shown signs of a gradual rebound after bottoming, of which Taipei's mid- to high-priced Central Taiwan northern residential market was supported by the stock-market wealth effect and performed relatively steadily. However, although both Taipei and New Taipei were up from a year earlier, Taipei still posted a quarterly decline, with an inconsistent pace of stabilization.
Tainan's Q3 index was 192.96, down 4.88% QoQ and down 3.38% YoY, the largest QoQ and YoY declines among the seven observed areas. Hsinchu's Q3 home price index was 247.25, down 0.57% QoQ and up 0.10% YoY, shifting to range-bound consolidation after peaking in Q4 2024 and undergoing correction. Zeng Jingde analyzed that rising stocks on one hand increased public wealth and purchasing power, forming price support, while on the other hand stock investment opportunities also attracted capital, with short-term allocation focus remaining in the stock market.