TAIPEI (TVBS News) — The Ministry of the Interior's (內政部) 2024 self-occupancy home purchase loan interest subsidy program (自購住宅貸款利息補貼) opened for applications in August.
The preferential loan program resulted in Taipei City offering a maximum subsidy amount of NT$2.5 million, New Taipei City providing NT$2.3 million, and other counties and cities offering NT$2.1 million, with a total quota of 4,000 households.
Despite the MOI's subsidy program and the "Preferential Housing Loans for the Youth" (新青安補助), Mr. Hung (洪), a renter, expressed concern and the difficulties in purchasing a home of his own. He revealed that self-provided down payment remains his primary challenge due to high property prices.
The National Land Management Agency (國土署) explained that Taipei City and New Taipei City have the highest and second-highest property prices nationwide, justifying the different loan amounts.
Applicants with their household registration in Taipei City must meet specific criteria: a family annual income below NT$1.64 million, an average monthly income per person under NT$68,772, family movable assets below NT$7.15 million, and family immovable assets under NT$9.4 million.
A public relations staff member at a real estate planning and research office, Lai Chih-chang (賴志昶), explained that coupled with the loan interest subsidy and the Preferential Housing Loans for the Youth, buyers from Taipei City can receive approximately NT$12.5 million in financial aid, helping ease the home-buying process for first-time buyers.
However, a real estate office's project manager, Tseng Ching-te (曾敬德), noted the loan interest subsidy policy's limitations, stating that securing loans despite the subsidies was difficult.
As the housing market heats up, banks are requested to issue self-disciplinary measures to limit real estate loan operations to prevent overconcentration.
Meanwhile, the government is also doing its best to look out for the interest of renters.
The NT$30 billion Expanded Rent Subsidy Program (300億元中央擴大租金補貼), implemented in July 2022, increased approved households from 280,000 to over 607,000 by the end of July.
The Executive Yuan (行政院) has now decided to extend the program until 2026 and plans to increase the subsidy households to 750,000 from next year, streamlining the application process by having local governments review applications and the central government disburse funds.
