Establish buyback mechanism for sold national non-public use land to stop land hoarding
Starting from May 13, 2010, national lands covered under urban planning of Taipei City and New Taipei City with an area of 100 ping or above are eligible for repurchase at the sale price if they are not utilized (having obtained a construction license and beginning construction) within 2 years after being sold by tender (3 years for those subject to urban design review). The principle of repurchase was amended on March 27, 2012, with an additional article: “Regarding the national non-public use land, once it is confirmed that they are not utilized within a certain period after sales, the affiliated departments of the National Property Administration will determine the land’s current market price according to procedure. If the current land price is higher than the price sold, it is eligible for repurchase. If the price is lower than the market price, it will not be repurchased.” This prevents speculation on land sales and risk to the government.
It promotes the efficiency of land utilization after the sale of national land to prevent land hoarding by financial groups and construction companies to inflate land value.