For the average Joe, buying a house in Taipei is next to impossible. Pretty soon the same might be said for Hsinchu. According to bank appraisal data released by the Joint Credit Information Center, the average Hsinchu home was valued at NT$11.98 million in the second quarter on this year. That’s an increase of more than NT$1.92 million compared to the same period in 2020. This is the greatest yearly increase anywhere in Taiwan, beating even Taipei, where prices went up NT$1.84 million. The third greatest rise was seen in Chiayi City, where prices increased by more than NT$700,000.

According to a realtor, Hsinchu prices are up because of the U.S.China trade war. How’s that? U.S. sanctions on Chinese products had triggered an exodus of Taiwanese businesses from China. Many have relocated to Hsinchu’s science park, where their staff have driven up housing prices in Zhubei, Baoshan, and Zhudong. Another factor behind the price rise is the soaring cost of building materials, according to the realtor.