CONCIERIA, the property brand of CLEARTH LIFE in Tokyo

CLERATH LIFE TAIWAN INC. (東京都心不動産股份有限公司:https://www.clearthlife.com.tw/ ), one of the CLEARTH LIFE Group companies, and its director Mr. Jimmy Huang (黄逸群 ) were interviewed on Taiwan's TV show “  中視新聞台 (CTV News Channel) ” on June 11 (Tue), 2024.

News Topic:

"Young Koreans have to work 86 years to finally purchase their dream home. 'Taiwan is even worse.' Is the environment far worse than in Japan and South Korea ?"

According to the news, it has been becoming more difficult for young people to purchase properties.

South Korea:

According to a survey by the research institute of the Korean Confederation of Trade Unions (KCTU), the average annual income of a household under 29 years old is KRW 41.23 million (approximately JPY 4.7 million). The apartment price in Seoul, the capital of South Korea, is approximately KRW 1.198 billion (approximately JPY 136.57 million). Even if they save all of their income, it would take 29.1 years to save up for the purchase. Assuming an annual savings potential of KRW 13.89 million, it would actually take 86 years.

*KRW: Korean Won, JPY: Japanese Yen

Taiwan:

The situation is even worse in Taiwan. The average annual income of a person under 30 years old is NTD 535,700 (approximately JPY 2.6 million), and the apartment price in Taipei is approximately NTD 19.11 million (approximately JPY 92.85 million). Even if they save all of their income, it would take 35.6 years to save up for the purchase.

*NTD: New Taiwan Dollar

Japan:

The average annual income of a person under 30 years old is NTD 750,000 (approximately JPY 3.65 million), and the apartment price in the Tokyo metropolitan area is NTD 15.38 million (approximately JPY 74.76 million). Even if they save all of their income, it would take 20.5 years to save up for the purchase.

Interview by Director Mr. Jimmy Huang of CLERATH LIFE TAIWAN INC. :

"Compared to Taiwan and South Korea , mortgage interest rates are lower in Japan , and mortgage periods can be set longer, making the barrier to purchasing properties lower. In Taiwan, despite low incomes, apartment prices are relatively high, making the barrier to purchasing properties high."

*By exchange rates as of June 13, 2024: KRW 1 = JPY 0.114, NTD 1 = JPY 4.861