TAIPEI (TVBS News) — Tiny apartments measuring less than 82.64 square meters (25 pings) have recently garnered increasing attention in Taiwan's housing market.
Recent data indicate that the ratio of tiny apartments among the total property transactions in the first quarter of 2023 was approximately 41.9%.
Low birth rates amidst a gradually aging population and a steep increase in housing prices have resulted in more people opting to purchase "rooms for one."
Taiwan Realty Enterprise's Senior Manager Chen Ting-chung explained that amid surging housing prices, one way to maintain the original budget was to purchase smaller homes.
"Another key factor is that the public facilities ratio is increasing with new residential buildings today; if you want your budget to stay the same, your interior space must be sacrificed," he added.
During the first quarter of this year, the average area sold in residential property transactions was approximately 104.4 square meters.
This marks a decrease of about 38 square meters compared to the average from a decade earlier in 2014.
From 2017 to 2022, the average area of residential properties purchased was around 79 square meters (24 pings).
Now, it has decreased even further to only 73.7 square meters (22.3 pings).
"If real estate in Taiwan becomes more like Japan, the entire housing plan, including interior space, building materials, and bathrooms, will experience significant change," housing market expert Ho Shih-chang said.
With smaller apartments, the size of facilities and home appliances must be adjusted to accommodate these changes.
As real estate prices continue to rise, Taiwanese businesses and the general public will encounter new norms in the future.
