Commercial property

Who cares about COVID-19? Construction lending in Taiwan jumps to record levels

Soaring demand from property developers is helping lenders grow their loan books to record highs, as developers continue their land buying spree unfazed by the pandemic.

Banks in Taiwan are aggressively increasing lending to developers for residential and commercial construction projects, capitalising on soaring demand that remains resilient in the face of COVID-19’s impact on global economies

An ongoing buying spree from the nation’s largest developers has pushed existing construction loans to an all-time high of NT$2 1 trillion ($69 9 billion) in February this year, according to figures by CBRE And industry figures expect the buying to continue throughout the year, driven by the lowest office vacancy rates in two decades and strong demand for residential apartments

“The banks are keen to lend, and developers are also keen to borrow,” says Chao-Hsiung Liao, spokesperson for the development department of Highwealth...

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