The Ministry of the Interior released its latest report on Taiwans land prices earlier this week, and it shows that the urban land price index has grown by nearly 2.5% since last October, marking the sharpest increase in the past 17 years.

The Ministry of the Interior's latest land price index increased 2.49% from the same period one year ago, and the increase increment was the highest in the 17 years the MOI has been tracking land prices.

Land prices in Kinmen County rose by 6.61%, which was the most among all cities and counties, followed by Taipei County at 4.32% and Taipei City at 4.31%.

Taichung City and Kaohsiung County's land prices, meanwhile, rose by 2.09% and 0.93% respectively. Land prices rose in 20 of the 25 cities and counties surveyed.

The relatively small size of Taipei City means that the population is migrating outwards into Taipei County, and the extension of the MRT system and other public infrastructure projects contributed to the soaring land value in Taipei County.

Taitung County saw its land value fall 0.7%, which was the most among all cities and counties, followed by Yunlin County, Lianjiang County, Taichung County, and Tainan County.

According to analysts, these five counties are unable to attract private investors due to the lack of major infrastructure.