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Amendments to the Regulations for Exchange between National Non-public Use Real Estate and Other Real Estate were made by Ministry of Finance (MOF) to enhance the benefits of utilizing national real estate

On October 18, 2022, the Ministry of Finance revised the Regulations for Exchange between National Non-public Use Real Estate and Other Real Estate (hereinafter referred to as the” Exchange Measures”), where national real estate within the scope of urban planning may be exchanged with lands owned by other individual(s) within the same urban planning area, that can be used for independent buildings. Also, for those owners of private real estate who exchange properties with the central agencies for needs of public affairs or for the public, a mechanism is set up, allowing those private owners to contest the valuation determined by the assessment.

As per the NPA, prior to the revision of the Exchange Measures, exchanges of national real estate within the scope of urban planning with lands owned by other individual(s) within the same urban planning area were only limited to situations where two properties were both located on the same or adjacent streets, or in the same rezoning area. Considering the similarity of the overall environment in the same urban planning area, the revisions take relaxed measures, where national real estate within the scope of the urban planning area may be exchanged with lands owned by other individual(s) within the same urban planning area. The new measures enhance the benefits of utilizing national real estate, while providing the individual owners with choices for property exchange in a wider range of location. In addition, new measures were introduced in the revisions that, where the central agencies need to use other people's real estate to serve specific official affairs or public purposes, the price valuation on the candidate properties shall be appraised via outsourcing by commissioned parties in accordance with the valuation approaches for national properties. This will expedite the processing time of an exchange case. Those owners of private real estate who exchange properties with the central agencies shall also be entitled to contest the valuation determined by the assessment. All these amendments were made to enhance the willingness of private land owners to exchange properties with the central agencies, while serving the purpose of the central agencies in promoting public affairs or satisfying needs for the public, thus creating a win-win situation (for both the private owners and the central agencies).

Furthermore, as per the NPA, to ensure the enhancement of benefits of utilizing national lands and protect the rights and interests for national properties, amendments were also made to limit the exchange of national lands within the scope of the overall development project approved by the responsible authority of target business, with lands owned by other individual(s), where such exchanges are limited to private lands that are located outside the scope of the development project, within a certain range, and can be used for independent building. In addition, the amendments also covered reminders that impacts to the utilization of adjacent national real estate shall be taken into account in the exchange of national real estate.

Press Release Contact: Yang Li-Sheng, Section Chief

Contact number: +886-27718121 ext. 1241

Issued:National Property Administration Release date:2022-12-12 Last updated:2022-12-12 Click times:455