HIGH prices of Hong Kong properties and decreasing yields are eroding their attraction, driving many local investors to look elsewhere for better yield and capital gain.
Taiwan has emerged in the past few years as an attractive centre for property investments. The island nation boasts a stable economy and an average growth of more than five per cent GDP over the past three years.
It has the highest foreign currency reserves in Asia. With such a solid economy, Taiwan's relatively low property prices have attracted much foreign investment. Taipei has a dense population, with most luxury properties located away from the city centre.
Yang-Ming Hill, one of the better-known luxury areas, is a typical example. Unfortunately, this area suffers from serious traffic congestion.
Another area, Danshui, is a fast-emerging haven of more luxury homes. The Taipei Rapid Transport System linking Taipei and Danshui is scheduled to open by the end of the year, cutting travel time to 20 minutes.
Accordingly, property prices in Danshui are set to move up, making an investment in luxury homes in the area a wise and timely move. Among the luxury developments in Danshui, Ritz Heights is an outstanding choice. According to Helene Li, executive director of New Sino Charter, sole marketing agent for Hong Kong, Ritz Heights was developed and managed by the Ritz Hotel Group, the world's leading five-star hotel group.