Real Estate in Taiwan
Last updated on Mar 10, 2023
Summary: An expat looking to buy a home in Taiwan should begin by researching the different areas of the country and deciding which area best suits their needs. They should also research the local real estate market to get an idea of the types of properties available and the prices. Foreigners are allowed to purchase property in Taiwan, but there are restrictions on the size and type of property that can be purchased. For example, foreigners are not allowed to purchase agricultural land or land designated for public use. Houses in Taiwan typically include amenities such as air conditioning, central heating, and modern appliances. Many homes also have balconies or terraces, and some may include a garden or a pool.
How do I find a place to live in Taiwan?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One of the best ways to find a place to live in Taiwan is to use online resources such as websites and forums. Websites such as 591.com.tw and TaiwanRent.com are great resources for finding apartments and houses for rent. Additionally, there are many online forums dedicated to expats living in Taiwan, such as Expat-Taiwan.com, which can be a great source of information and advice on finding a place to live. Additionally, it is also possible to find a place to live by asking around in the local community, such as at universities, churches, or other places where expats may gather," said one person in Taiwan.
What is a typical expat home or apartment like in Taiwan?
"Expat homes and apartments in Taiwan tend to be modern and comfortable, with a range of amenities to make life easier. Many expats choose to live in high-rise buildings, which often come with a range of facilities such as swimming pools, gyms, and saunas. Expat apartments are usually well-equipped with modern appliances, and often come with a balcony or terrace to enjoy the views. Expats can also find homes in more traditional neighborhoods, with a range of local amenities such as markets, restaurants, and parks," remarked one member in Taiwan.
What is the average cost of housing in Taiwan?
If you are thinking about moving to Taiwan, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The cost of housing in Taiwan varies depending on the location and type of accommodation. Generally, the average cost of renting an apartment in Taiwan is around NT$20,000 to NT$30,000 per month, while the average cost of buying a house is around NT$3 million," said one expat who made the move to Taiwan.
Should I buy or rent a home in Taiwan?
If you have not spent a lot of time in Taiwan, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"When deciding whether to buy or rent a home in Taiwan, it is important to consider your budget, lifestyle, and long-term plans. Buying a home in Taiwan can be a great investment, as property values tend to appreciate over time. However, it is important to factor in the cost of maintenance and repairs, as well as the time and effort required to manage the property. Renting a home in Taiwan can be a more affordable option, and it can provide more flexibility if you are not sure how long you will be living in the country. Ultimately, the decision to buy or rent a home in Taiwan should be based on your individual needs and preferences," remarked one member in Taiwan.
What do I need to know when buying property in Taiwan?
When we asked expats what advice they would give a foreigner before buying a property in Taiwan, they said:
"1. It is important to research the local market and understand the current trends in the area before making a purchase. 2. It is important to understand the legal requirements for purchasing property in Taiwan, including any restrictions on foreign ownership. 3. It is important to obtain a professional appraisal of the property before making a purchase. 4. It is important to understand the tax implications of purchasing property in Taiwan, including any applicable capital gains taxes. 5. It is important to understand the local zoning laws and regulations that may affect the use of the property. 6. It is important to understand the local building codes and regulations that may affect the construction or renovation of the property. 7. It is important to understand the local laws and regulations regarding rental properties, if applicable. 8. It is important to understand the local laws and regulations regarding the transfer of ownership of the property. 9. It is important to understand the local laws and regulations regarding the maintenance and upkeep of the property. 10. It is important to understand the local laws and regulations regarding the sale of the property," explained one person living in Taiwan.
Are foreigners allowed to own property in Taiwan?
When we asked expats what advice they would give a foreigner before buying a property in Taiwan, they said...
"Yes, foreigners are allowed to own property in Taiwan. However, there are certain restrictions in place. Foreigners are only allowed to purchase property in certain designated areas, and they must obtain permission from the Ministry of the Interior before they can purchase a property. Additionally, foreigners are not allowed to purchase agricultural land or land designated for public use," said one foreigner living in Taiwan.
What appliances are typically included in a rental?
We asked foreigners in Taiwan what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"In Taiwan, rental properties typically include a refrigerator, washing machine, air conditioner, and water heater. Some properties may also include a stove, oven, and microwave. Additionally, some landlords may provide furniture such as a bed, sofa, and dining table," wrote one expat who made the move to Taiwan.
Additional Information about Searching for a Home in Taiwan:
We asked foreigners in Taiwan what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats can search for homes in Taiwan by using online real estate websites, such as 591.com.tw, to browse listings of available properties. They can also contact local real estate agents to help them find a suitable home. Additionally, expats can search for rental properties on websites such as Expat.com, which offers listings of apartments and houses for rent in Taiwan," explained one person living in Taiwan.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.