TAIPEI (TVBS News) — Taiwan is on track to surpass South Korea and claim the title of the country with the world's lowest fertility rate by 2035, according to a report by the National Development Council.
Amid the declining birth rates, the rental housing market around universities is already impacted.
Based on the latest statistics, Chinese Culture University, Shih Chien University, and Chung Hwa University are all experiencing a vacancy rate of over 50% for their allotted enrollment slots.
Take Chinese Culture University as an example. Out of the 2,276 enrollment slots, only 934 students have been admitted.
With fewer students, securing dormitory accommodations has become more accessible. However, landlords near Chinese Culture University have noted the challenge of renting out properties.
During an interview, a landlord in Yangmingshan highlighted that properties near universities were once in high demand, with people even inquiring about room availability late at night. However, the situation has shifted, with the room vacancy rate now being high and supply surpassing demand.
Confronting the declining demand in the rental market, many landlords are choosing to slash their prices by reducing rates by around NT$10,000 annually to attract more tenants.
However, not all landlords are taking this route. A real estate expert highlights that some property owners will hold out until September, coinciding with the start of the new semester. This could lead to an even higher vacancy rate.
Indeed, the decline in birth rates has significantly impacted the rental housing market. As a result, landlords in Taiwan are actively seeking fresh tenant sources and making greater use of government support to minimize losses.
