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...
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