Cities are getting more and more expensive. With over half the world’s population now living in urban environments, the intersection between design and technology has become fundamental to making cities more sustainable, affordable, and efficient.
Taipei is emerging as one of the world’s leading innovators of urban planning and design, green architecture, public transportation, and smart technology leveraging the Internet of Things. This presents itself as an exciting opportunity area to implement new urban systems that work and adapt to existing products and technologies.
System & Product
Rethinking urban housing models to increase housing affordability in Taipei
Current State Housing Landscape
Having one of the World’s lowest price to income ratio, housing inequality remains a pressing issue in Taiwan.
How might we rethink urban housing models to increase housing affordability and eliminate housing inequality?
The effected population lies mostly with young working people and senior citizens. While there are emerging housing models that aim to support these target groups, the dominating private housing developments make it challenging to sustain and expand.
Single 20s, 30s
Nowhere to downsize
Limited access to public housing
No motivation for independence
No savings; live paycheck to paycheck
Expensive nursing homes
While most of the housing in Taiwan are privately bought and sold, only 10% are being legally rented, and due to lack of funding and land, only 0.1% are Government owned social housing
A lot of these privately owned homes remain unoccupied due low rental yields, housing discrimination, foreign investments, and price inflations
Newer housing models such as Co-Living, provide better and more affordable living experiences, however currently, can only provide around 100 spaces, barely enough to house everyone in need of decent affordable housing.
Underground market landlords enjoy Tax evasion while tenants, particularly young people and senior citizens, are taken advantaged of and are living in substandard “snail” housing without protection or rent subsidy
The underground rental market has a volume 10x the official market due to lax home rental regulations
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