Developers Eyeing Growth Opportunities Along the Green Line MRT
The southern district of Taichung has been a focal point for developers, with the “Shuzijiao Section” project by an elite construction agency garnering significant attention near the Daqing Station. Since the opening of the Green Line MRT in 2021, ridership has been steadily increasing. According to statistics from the transportation bureau, the first half of this year saw a total of 7,853,296 passengers, marking a 29% increase compared to the same period last year. Analyzing the average daily entries and exits in June, the top five stations were the Taichung High-Speed Rail Station with 15,820 passengers, the City Hall Station with 10,365 passengers, the Wenshin Chongde Station with 5,838 passengers, the Wenshin Zhongqing Station with 5,675 passengers, and the Daqing Station with 5,475 passengers. These stations have become battlegrounds for developers, attracting prominent names such as Elite, Dali, Liren, Fengyi, Guoju, and Guotai to launch their projects in the area.
Key Stations Driving Real Estate Development
The Taichung High-Speed Rail Station, located at the terminus of the MRT line, has seen a surge in development due to the synergies created by the convergence of three rail systems and the presence of shopping centers. Notable projects like the “New High-Speed Rail” by Dali Construction have recorded over 800 transactions within less than a year since its public launch in September last year, with prices reaching the five-million mark. On the other hand, the Daqing Station in the southern district, a rare dual-rail hub in Taichung, is only an 8-minute ride or a 10-minute direct commute to the Phase VII city center from the Taichung High-Speed Rail Station. With convenient access to highways such as the dual national roads, Route 74, Wenshin Road, Zhongming South Road, and Fuxing Road, the robust transportation network has further fueled regional development, making it a sought-after investment destination for many.
Recognizing the promising prospects of the area, Elite Construction Agency has ventured into the southern district this year with the launch of the “Shuzijiao Section” project near the Daqing Station. Spanning an area of 2,323 ping, the project features 34-41 ping, 3-bedroom units, with an estimated starting price in the six-million range. Similarly, Liren Construction, a subsidiary of Lianju Construction, has targeted the vicinity of the Wenshin Zhongqing Station with its new project “Liren Taishes,” offering 45-ping units that have already reached a peak price of 744,000 yuan per ping. Fengyi Construction has also introduced the presale project “Wenshin O’LIVE” just 200 meters away from the Wenshin Chongde Station, emphasizing 36-54 ping, 3-4 bedroom units, with the highest recorded price reaching 689,000 yuan. Furthermore, listed developer Guotai Construction (2501) has invested 1.045 billion yuan to acquire approximately 567 ping of land surrounding the Wenshin Chongde Station, with plans to launch a residential high-rise building in the future.
In addition to the high-traffic stations mentioned above, the MRT special zone at the North District Terminal Station has also attracted renowned developers such as Han Yu, Huiyu, Dacheng, Yuanxiong, and Xinmeiqi due to its advantageous features in transportation, population, green spaces, and more. Han Yu Construction, for instance, has spent seven years integrating a 1,513-ping land parcel at the intersection of Dunfu Eighth Street and Nanxing Road, planning to unveil a 27-story hundred-meter building in the fourth quarter of this year. Meanwhile, Yuanxiong Construction’s “Bilin Duan New Project” is set to commence construction in September, with market estimates projecting prices in the six-million range.
Impact of MRT on Real Estate Market
Chen Bingchen, Director of the Research Department at Living Exhibition Magazine, highlighted the trend of living near MRT stations as a modern approach to real estate acquisition. Families with children or elderly members are particularly inclined to consider properties near MRT stations, given the convenience and connectivity they offer. The Green Line MRT in Taichung has already established a reputation for fostering healthy residential environments with features like city centers, green spaces, and major infrastructural developments. The presence of a rail system further boosts property values and attracts developers eager to capitalize on the limited supply of properties along the single MRT line. As a result, the competition among developers to secure prime locations near key MRT stations has intensified, driving the growth of the real estate market in Taichung.
In conclusion, the Green Line MRT in Taichung has not only transformed the city’s transportation landscape but also reshaped its real estate sector. The increasing ridership and development opportunities along key stations have attracted prominent developers to invest in residential and commercial projects, signaling a positive outlook for the region’s property market. With the MRT line serving as a catalyst for urban growth and connectivity, Taichung’s real estate market is poised for further expansion and innovation in the coming years.