Reported 7 months ago
According to housing experts, the Central Bank abruptly implemented a 40% reduction in the loan amount for second homes, potentially triggering a wave of defaults. This new policy, effective on June 14, reduces the loan-to-value ratio from 70% to 60% in six major cities and Hsinchu County and City. This move may lead to significant financial gains for homeowners and developers but could also result in a surge of defaults. The policy's sudden implementation may impact ongoing property transactions, potentially subjecting buyers to high penalty fees. The article suggests that buyers facing financial challenges should seek alternative funding sources promptly.
Source: YAHOO