Official Real Estate Purchase Price Register

The Legislative Yuan passed 5 amendments to laws regarding residence rights and land rights, including Real Estate Broking Management Act, Equalization of Lands Rights Act, Land Administration Agent Act, and Land Acquisition Act.

According to the amended laws, 3 days after transferring real estate ownership or closing a real estate deal, the general public, real estate agents or land administration agents must register the case including the purchase price with the competent government department.

If real estate agents or land administration agents are found to register false purchase price, they will be fined NTD 30,000 to NTD 150,000; in the case of the general public, they will only be fined NTD 30,000 to NTD 150,000 when failing to correct the registered purchase price after the government requests the correction.