TAIPEI (TVBS News) — Taipei 101 has topped the city's land value chart for the 11th consecutive year, the Taipei City Government's Department of Land Administration announced on Wednesday (Dec. 20).
The value of the land on which Taipei 101 stands is now estimated at NT＄2,001,000 per square meter, or approximately NT＄6.615 million per ping, which is a traditional Taiwanese unit of area equivalent to 3.306 square meters.
Following closely, Cathay Landmark Plaza has hit a record high in office rental prices over the past year, as the prime commercial property's land is now valued at NT＄1,920,000 per square meter or roughly NT$63.47 million per ping.
Shin Kong Life Tower, another towering structure gracing the city's skyline, boasts the third-highest land price in Taipei.
The tower's value is set at NT＄1,904,000 per square meter, equating to about NT$62.94 million per ping.
Chen Hsin-liang, the head of the land administration, noted that land values in Taipei have risen for six straight years since 2019, although the increase for 2023 appears to be slowing down.
According to the latest housing price index from the Ministry of the Interior, Taipei's yearly increase was at 1.37%, with a 0.48% rise in the land price index, marking the city as the most stable among Taiwan's six special municipalities regarding property value growth.