Nationwide Near Flat as Regional Divergence Continues
Sinyi Realty released its Q3 2026 housing price index, with the nationwide index down 0.07% QoQ and down 0.05% YoY, broadly flat overall. Among them, both the QoQ and YoY changes in Taoyuan and Kaohsiung turned from negative to positive, Taichung's annual decline also narrowed for three consecutive quarters, while Tainan still fell 4.88% QoQ, showing continued regional divergence. Sinyi Realty Project Manager 曾敬德 observed that transaction volume has not yet expanded significantly, with the market in a consolidation pattern capped above and supported below, and judging from continued low volume in the new-home market, the market remains driven by owner-occupiers with prices and volume stabilizing.
Taoyuan and Kaohsiung Both Turn Positive QoQ and YoY
In Q3, Taoyuan's housing 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 pullback, and the annual gain was the highest among the seven observed regions including the six metros and Hsinchu. However, Sinyi Realty noted that Taoyuan has a large amount of new supply, with some supply concentrated in redevelopment zones, which still limits further upward price momentum, and the market is expected to remain dominated by owner-occupier demand. Kaohsiung's Q3 housing price index was 173.24, up 2.53% QoQ and up 1% YoY, also turning positive in both QoQ and YoY changes, with short-term prices showing signs of breaking out of the pullback, but overall market transaction volume has not yet expanded, and it remains to be seen whether demand can continue.
Greater Taipei Bottoming at Different Paces
Home prices in Greater Taipei showed different quarterly trends, with Taipei's Q3 housing price index at 143.55, up 1.48% YoY but down 0.64% from Q2; New Taipei's index was 162.35, up 2.64% QoQ and up 1.04% YoY. 曾敬德 believes the Greater Taipei market has shown signs of a gradual rebound after bottoming out, with Taipei's mid-to-high-end housing market supported by stock-market wealth effects and performing relatively steadily. However, judging from this quarter's data, although both areas in Greater Taipei rose from a year earlier, Taipei still posted a QoQ decline, with an uneven pace of stabilization, and the bottoming rebound is currently Sinyi Realty's reading of the market, with the subsequent trend still to be verified by continued transaction and price data.
Taichung Narrows Decline, Tainan Still Falls, Hsinchu Consolidates
Central and southern Taiwan did not recover across the board, as Taichung's Q3 housing price index was 185.68, up 1.11% QoQ and down 1.30% YoY, with the annual decline narrowing for three consecutive quarters, and prices may gradually stabilize, though time is still needed to digest gains from the earlier period. In contrast, 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 regions, so even with Taichung's narrowing decline and Kaohsiung turning positive, the central-southern housing market cannot generally be seen as having stopped falling. Hsinchu's Q3 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 a correction. 曾敬德 analyzed that rising stocks on one hand increase household wealth and purchasing power, forming price support, and on the other hand attract capital so that short-term allocation focus remains on the stock market, with Q3 market conditions similar to Q2, and barring other external events, the overall housing market is expected to remain dominated by owner-occupier demand, with prices and volume relatively stable.