Houses in Taiwan are exceptionally expensive, particularly in Taipei and tech hubs like Hsinchu, due to a combination of high investment demand, limited land supply, low-interest rates, and cultural preferences for homeownership. A persistent supply shortage, coupled with, historically low-interest rates, has encouraged speculative buying and driven prices far beyond average income growth.
Buying property in Taipei costs around US$7,000 per square meter (US$650 per square foot). That means a rather modest 100sqm, two-bedroom house or apartment for sale in Taipei will set you back US$700,000. The average Taiwanese citizen makes just over US$1,500 a month though.
Taiwan permits foreigners to acquire residential and commercial properties, as well as land designated for specific purposes, such as business operations or personal residence.
Taiwan is projected to experience the highest increase in USD millionaires, increasing from 788,799 in 2023 to 1,158,239 in 2028. This sharp rise is due to Taiwan's rapidly growing technology sector, especially its role in making semiconductors.
A “good” salary in Taiwan depends on a variety of factors, including where you live, your lifestyle, and your personal financial goals. For a single person, earning NT$50,000 to NT$70,000 (USD $1,650 to $2,300) per month is generally considered comfortable in most parts of the island.
The World’s Smallest Apartments: 16 ft² Coffin Homes in Hong Kong
Is Taiwan wealthy or poor?
Taiwan is a rich, high-income, technologically advanced economy, ranking high globally in GDP per capita and known for its "Taiwan Miracle" of rapid development, strong tech sector (especially semiconductors), and universal healthcare. Despite this wealth, some locals perceive less prosperity due to high property costs and a gap between the thriving tech sector and lower wages in other industries, creating a contrast between national wealth and individual financial feel.
According to official figures, Taiwan has a low poverty rate. With a 2025 GDP per capita of $37,000, Taiwan is a high-income, advanced economy. Taiwan measures the poverty rate officially by classifying only those with an income below 60% of the median income as “in poverty,” which is around 2.6% of the population.
Guanxin in Hsinchu City has retained top spot as Taiwan's richest ward, according to the Ministry of Finance's (MOF) latest table of average household incomes.
Getting a job besides teaching English can be difficult, especially if you don't speak Mandarin. Apartments in Taiwan are small, so storage can be an issue (for additional storage space, I recommend ). The country is one of the world's most crowded, and it can sometimes feel that way. Noise pollution is very real.
Standard one-bedroom apartments in the city center cost NT$21,000 (US$700) per month. Taichung and Kaohsiung, both major cities, are cheaper. Similar places may cost NT$10,000 to NT$15,000 (US$320 to US$480) in Taichung and NT$8,000 to NT$12,000 (US$250 to US$285) in Kaohsiung.
Cities like Tainan, Kaohsiung, and Chiayi are some of the cheapest places to live in Taiwan, with affordable rent, a lower cost of living, and the benefit of living in beautiful, culturally rich environments. By choosing the right location, you can enjoy Taiwan's unique lifestyle while keeping your living costs low.
However, the story behind the high prices is more than just labor costs. Many developers in Taiwan have been sitting on land they purchased decades ago, when land was cheap. These developers often wait for the property market to appreciate before selling, ensuring that they can profit from the rise in land values.
Studies show that Taiwanese people's healthy life expectancy lags behind that of advanced Western countries, as well as Japan and South Korea. The unhealthy life expectancy of Taiwanese is as high as 8.47 years, a key issue being insufficient public health awareness and inadequate chronic disease care.
Within Taiwan, there emerged a major political contention between eventual Chinese unification with a pan-Chinese identity contrasted with formal independence promoting a Taiwanese identity, though moderates supporting the status quo have gained broad appeal in the 21st century.
When measured by nominal GDP, the United States remains the richest country in the world, generating over $27 trillion in economic output in 2025. Its strength lies in a highly diversified economy, spanning finance, technology, manufacturing, and services.
Poverty in the Philippines has been linked to bad governance, corruption, and a political system dominated by political dynasties. The country's poorest provinces are ruled by political dynasties. Additionally, there are the problem of extractive institutions that hinder the country's economic growth.
The Big Mac index: a Big Mac in Taiwan is one of the cheapest in the world at effectively US$2.3–2.4 vs about US$5.7–5.8 in the U.S., implying the TWD is almost 60% undervalued relative to the dollar by that very rough metric.
There are many reasons behind Taiwan's low fertility. Women are increasingly choosing not to marry, and by extension, not to have children, Ruoh-Rong Yu, a gender and labor scholar at Academia Sinica. Last year, Taiwan's birthrate was just 5.76 newborns per 1,000 people, about half of what it was a decade ago.
In Taiwan, bubble tea has become not just a beverage, but an enduring icon of the culture and food history for the nation. In 2020, the date 30 April was officially declared as National Bubble Tea Day in Taiwan. That same year, the image of bubble tea was proposed as an alternative cover design for Taiwan's passport.
